Alessio Brini

Luciano Juvinski, Haochen Li, Alessio Brini

Global illicit fund flows exceed an estimated $3.1 trillion annually, with stablecoins emerging as a preferred laundering medium due to their liquidity. While decentralized protocols increasingly adopt zero-knowledge proofs to obfuscate transaction graphs, centralized stablecoins remain critical transparent choke points for compliance. Leveraging this persistent visibility, this study analyzes an Ethereum dataset to establish an empirical baseline for behavioral AML detection. Our findings demonstrate that domain-informed tree ensemble models achieve higher Macro-F1 score, significantly outperforming graph neural networks, which struggle with the increasing fragmentation of transaction networks. The model's interpretability goes beyond binary detection, successfully dissecting distinct typologies: it differentiates the complex, high-velocity dispersion of cybercrime syndicates from the constrained, static footprints left by sanctioned entities. This methodological approach provides actionable insights that align with industry shifts toward deterministic verification, informing the auditability and compliance requirements under regulations such as the EU's MiCA and the U.S. GENIUS Act while minimizing unjustified asset freezes. By providing a high-precision behavioral classification of suspicious wallets, this approach contributes to raising the economic cost of financial misconduct while informing compliance practice under emerging stablecoin regulations.

Alessio Brini, Gabriele Tedeschi, Daniele Tantari

In this paper, we analyze the effect of a policy recommendation on the performance of an artificial interbank market. Financial institutions stipulate lending agreements following a public recommendation and their individual information. The former is modeled by a reinforcement learning optimal policy that maximizes the system's fitness and gathers information on the economic environment. The policy recommendation directs economic actors to create credit relationships through the optimal choice between a low interest rate or a high liquidity supply. The latter, based on the agents' balance sheet, allows determining the liquidity supply and interest rate that the banks optimally offer their clients within the market. Thanks to the combination between the public and the private signal, financial institutions create or cut their credit connections over time via a preferential attachment evolving procedure able to generate a dynamic network. Our results show that the emergence of a core-periphery interbank network, combined with a certain level of homogeneity in the size of lenders and borrowers, is essential to ensure the system's resilience. Moreover, the optimal policy recommendation obtained through reinforcement learning is crucial in mitigating systemic risk.

Alessio Brini, Elisa Giovannini, Elia Smaniotto

The beekeeping sector has experienced significant production fluctuations in recent years, largely due to increasingly frequent adverse weather events linked to climate change. These events can severely affect the environment, reducing its suitability for bee activity. We conduct a forecasting analysis of honey production across Italy using a range of machine learning models, with a particular focus on weather-related variables as key predictors. Our analysis relies on a dataset collected in 2022, which combines hive-level observations with detailed weather data. We train and compare several linear and nonlinear models, evaluating both their predictive accuracy and interpretability. By examining model explanations, we identify the main drivers of honey production. We also ensemble models from different families to assess whether combining predictions improves forecast accuracy. These insights support beekeepers in managing production risks and may inform the development of insurance products against unexpected losses due to poor harvests.