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The use of AI in AML transaction monitoring


How much do you know about AI in AML?

The need for future-proof compliance software has been increasing. Both regulators and financial institutions agree that existing processes and platforms lack flexibility and are no longer efficient in detecting and combating the new, more sophisticated illicit activities.

“An institution has an automated and self-learning transaction monitoring system commensurate with its risk profile” – Post-event transaction monitoring process for payment service providers, Dutch National Bank (DNB).

Automation enhanced by machine learning has become a strong recommendation from European regulatory guidance. Nevertheless, before implementing artificial intelligence to your processes it is important to understand how it works.

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