In this month’s Money Laundering Bulletin we explore the promise that Artificial Intelligence and machine learning hold for improving AML compliance. We examine:
- Applying AI to the creation of AML risk data and how this can reveal unknown risks, update entity profiles faster and identify subtle links between profiles to help make better risk decisions more rapidly.
- AI enabled database screening which utilizes linguistic search technology to shift from a ‘name match’ approach towards the contextual driven approach of ‘identity matching’.
- The complex world of transaction monitoring and how AI and machine learning improves the analysis of linkages, proactively suggesting rule improvements to spot suspicious behaviors more efficiently.