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Federated Learning with Python

You're reading from   Federated Learning with Python Design and implement a federated learning system and develop applications using existing frameworks

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Product type Paperback
Published in Oct 2022
Publisher Packt
ISBN-13 9781803247106
Length 326 pages
Edition 1st Edition
Languages
Concepts
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Authors (2):
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George Jeno George Jeno
Author Profile Icon George Jeno
George Jeno
Kiyoshi Nakayama, PhD Kiyoshi Nakayama, PhD
Author Profile Icon Kiyoshi Nakayama, PhD
Kiyoshi Nakayama, PhD
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Table of Contents (17) Chapters Close

Preface 1. Part 1 Federated Learning – Conceptual Foundations
2. Chapter 1: Challenges in Big Data and Traditional AI FREE CHAPTER 3. Chapter 2: What Is Federated Learning? 4. Chapter 3: Workings of the Federated Learning System 5. Part 2 The Design and Implementation of the Federated Learning System
6. Chapter 4: Federated Learning Server Implementation with Python 7. Chapter 5: Federated Learning Client-Side Implementation 8. Chapter 6: Running the Federated Learning System and Analyzing the Results 9. Chapter 7: Model Aggregation 10. Part 3 Moving Toward the Production of Federated Learning Applications
11. Chapter 8: Introducing Existing Federated Learning Frameworks 12. Chapter 9: Case Studies with Key Use Cases of Federated Learning Applications 13. Chapter 10: Future Trends and Developments 14. Index 15. Other Books You May Enjoy Appendix: Exploring Internal Libraries

Applying FL to the financial sector

In the US alone, financial services firms spend billions of dollars every year on compliance to combat laundering, yet the current system is so ineffective that less than 1% of money laundering activities are thwarted. In fact, it’s estimated that firms spend roughly 100 times more money than they are able to recover from this criminal activity. Only a small percentage of transactions are caught by anti-money laundering (AML) systems, and an even smaller percentage of those alerts are eventually reported in suspicious activity reports (SARs), as required by the Bank Secrecy Act (BSA) of 1970.

Conservatively speaking, the value of information coming from a network of banks is many times higher than the information any one bank has. This is because you can see not just where the money came from, but also where it went.

Anti-Money Laundering (AML)

The current AML system needs major improvements, with several challenges that need to be...

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