How to start using AI to combat money laundering

22

 November 19 2018

According to a recent Europol report, combatting global money laundering continues to be a challenge. “The banks are spending $20bn a year to run the compliance regime … and we are seizing one percent of criminal assets every year in Europe”, Rob Wainwright, director of Europol told Politico recently.

At an institutional level, the volume, variety, availability and location of data, along with changing regulations and fraud schemes keeps many anti-money laundering (AML) compliance officers up at night.