AI Use Case
Identify and manage money laundering risks
Determine whether there are patterns of activity that suggest money laundering and compliance risks. Investment in Anti Money Laundering (AML) increasingly a regulatory focus (and cost) for banks operating in international systems.
Function
Legal And Compliance
Compliance
Benefits
Cost - Fraud reduction,Risk reduction - Reduced compliance risk
Case Studies
"HSBC~HSBC uses artificial intelligence to help spot money laundering, fraud and terrorist funding in its network"
Potential Vendors
Quantexa,Albion Ventures
Industry
Financial Services
Banking
Data Sets
Structured / Semi-structured,Time series
AI Technologies
Machine Learning (ML),Product Type - Natural Language Processing (NLP),Product - Optical Character Recognition (OCR),ML Task - Prediction - Annotation,Traditional AI,ML Task - Prediction - Binary Classification,ML Task - Prediction - Data Translation/Transformation