CHAT AI POSES A FUTURE RISK AND REWARD TO AML – BUT IT NEEDS TO GET SMARTER
August 26th, 2023
Every new information technology is a potential double-edged sword for committing and detecting financial crime, including money laundering and terror finance, and the development of large language model (LLM) processing AI systems, such as ChatGPT, is no exception.
Experts have already raised concerns about how these systems could be abused by money launderers, as well as how they may help obliged entities, FIUs and related law enforcement agencies fight dirty money flows.
European Union (EU) police agency Europol issued a report in March (2023) warning about ...
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