This chapter explores the idea that technology is the solution to all our AML/CFT problems. While technology may have some benefits, such as saving time and costs, the claims as to what today’s solutions can achieve are not always entirely correct. Claims may be more attuned to a cycle of fighting regulatory punishments than preventing money laundering. While AI and machine learning can raise interest in an AML technology solution, are such aspects actually based on the essential principles and understanding of today’s money laundering activities?
May 2022 onwards
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