Impact Of Lexicon Based Detection On Surveillance Efficiency
The lexicon-based detection system is used to detect risks in electronic communication. Most of the time it gets the job done, but sometimes lexicon-based analysis creates huge inefficiency and potential risks. The lexicon-based system is developed around alerts, These alerts are triggered whenever a certain keyword is used in conversation or in online chat. The biggest problem of this system is the return of false-positive results. Approximately 3,000 alerts may be produced daily, from a total of 75,000 messages collected and analyzed. Therefore, The large number of alerts produces a lot of burden on compliance surveillance teams, Especially when we know that the current market norm of a false-positive rate is 95 to 99.9%. Overall, a lexicon-based detection system is not just an ineffective solution to combat market manipulation and abuse, but it also puts more workload on analysts who have to achieve regulatory compliance through these alerts. Change in communication platform...