Deep Dive: An Automated Approach To The $2T Global Money Laundering Problem


March 18 2019

The term “money laundering” is believed to have originated as a result of infamous Chicago gangster Al Capone’s habit of channeling criminally obtained funds through laundromats, as their cash-heavy nature made it more difficult for the right side of the law to detect such money mixed in among legitimate payments. Money laundering has evolved greatly since Capone’s activities in the early 1900s, though, and it is becoming harder to combat. As such, the regulators and FIs seeking to crack down on these activities have their work cut out for them.