USING AI TO DETECT AND FIGHT TRADE-BASED-MONEY LAUNDERING USING AI TO DETECT AND FIGHT TRADE-BASED-MONEY LAUNDERING
October 27th, 2023
As artificial intelligence (AI) systems advance, detection of trade-based-money laundering (TBML) should improve, but there are major drawbacks to widespread implementation, notably though a dearth of available trade data, and poor statistical harmonisation worldwide. Paul Cochrane reports.
Artificial intelligence (AI) and machine-based learning has been used for the past decade by financial institutions to sift through vast amounts of data to spot anomalies as well as verify information. For instance, the use of software for the customer onboarding process - ...
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