AI and AML

Understanding transaction fraud and applying practical solutions is no easy task but needs to be done in every compliance department.

Upgrade your AML program with AI

It’s widely recognised that AML efforts have not been effective until now, with a less than 1% efficiency rate at capturing global money laundering activity. But that’s partially because AML has been hugely reliant on human-led data capture and processing. Now there are advanced artificial intelligence (AI) and machine learning (ML) opportunities that transform manual processes from multi-hour actions into instantaneous responses.

AML extends far beyond banks and fintechs, it touches on crypto exchanges, law firms, estate agents, art dealers, and many others. All these businesses require insights into their customer transaction activities and should adopt a risk-based approach to compliance so that they can thrive when operating on a daily basis.

Creating a thriving business in today’s economic climate means excelling while using regulatory demands to your advantage, rather than trying to replicate what others have done to succeed. Regulators are becoming stricter than ever and want to make sure that all regulated businesses are meeting their obligations without issue. Whether that’s SAR filing, creating an AML policy, or conducting day-to-day monitoring. All these aspects can be improved through AI technologies and Sentinels is showing the industry how to make it happen.

Keep reading to find out

AI/ML and AML are a match made in technological heaven. AI eliminates the need for rote data entry and takes internal AML program to the next level for any business. Find out how AI can extend the reach of your compliance process today by reading below.

See the power of AI:

The future is AI

Manual responses are no longer sufficient. Businesses need to adapt to new technology. Transaction monitoring needs AI to handle the rapidly evolving landscape of financial crime.

Power up your process with AI

Report suspicious activity with ease. AI allows your business to file suspicious activity reports at pace. Don't get left behind by new technology solutions.

Improve transaction monitoring

AI allows your business to keep a close eye on customer transaction activity without retasking compliance officers. Detect patterns more efficiently and uncover criminal activity that touches your business at speed.

Resources

Read More

How AML shaped the world in 2022

AML activity often reflects political and financial turmoil across the world. That was especially true in 2022.

7 Case Studies on AML Compliance: How to Avoid Fines

Key learnings for compliance teams on how to stay compliant.

How to break through data silos with automated transaction monitoring

Data silos are common throughout the financial world but they're holding compliance teams back.

What are KYC and Perpetual KYC?

Effective KYC processes sit at the core of any successful compliance program, and the demands of these processes are
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