Money laundering benefit from machine learning advances

Keeping track of fraud and money laundering made easier through machine learning

cyborg-human

Growing regulatory demands are leading banks to experiment with machine learning in order to meet anti-money laundering (AML) standards.

Gary Swiman, the head of compliance and regulatory consulting services at the New York accountant EisnerAmper, notes that banks are re-examining their AML processes as regulatory expectations change.

"If you look at 80% of the cases regulators brought up this year, the first thing regulators cite is that the bank did not have a systematised approach to AML

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