Banks and financial regulators wasting time on AML compliance should consider AI techniques
A new policy brief published by the Brookings Centre on Regulation and Markets has a clear focus on anti-money laundering (AML) compliance and suggests that banks, regulators, and law enforcement authorities are spending time and money chasing down potential leads but not really curbing illicit…
Financial crime specialists expect to benefit from Danske Bank’s trade finance collaboration with Conpend
Danske Bank has announced plans to digitise its trade finance processes through a collaboration with Conpend for use of its Trade AI app to automatically check against anti-money laundering (AML), know your customer (KYC) and sanctions regulations. Trade AI employs artificial intelligence and machine learning….
Screena and ThetaRay AI partnership promises faster identification of sanctioned entities and individuals
Cyber security and big data analytics company ThetaRay has entered into a partnership with Screena, a fintech that screens individuals and verifies entities against designated sanction lists. Aimed at financial institutions and governments, the ThetaRay system is designed to identify sophisticated attempts to circumvent economic…
IHS Markit and TradeSun partner to use data and AI to combat trade-based financial crime
TradeSun, a trade finance platform that features artificial intelligence (AI) technology that augments human behaviour by learning how employees interact with trade finance documents, has partnered with maritime and trade information, analytics and solutions provider IHS Markit, to offer an integrated trade solution that enhances…
India turns to AI to expose shell companies
India’s ministry of corporate affairs (MCA) is turning to artificial intelligence (AI) and data analytics as key elements to expose shell companies. The ministry is in the process of constructing what it describes as an advanced version of its MCA 21 portal on which companies…
