NEW TECH MAY HELP AML PROBES, BUT THEY ALSO INCREASE VULNERABILITIES FOR COMPLIANCE SYSTEMS
March 2nd, 2020
While new financial technologies and associated developments in machine learning and artificial intelligence offer AML/CFT solutions, anti-money laundering specialists are concerned about new risks being posed by new business and industrial innovations.
Banks are starting to adopt AI-based machine learning, but terrorists and criminals can use technology too: “It is really an AI arms race in financial crime”, said Kamer Yüksel, chief data scientist for Munich-based artificial intelligence start-up hawk:AI's and author of more than 35 publications on ...
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