Artificial Intelligence Can Nab Money Launderers
Payments Source, Feb 9, 2016
– Anti-Money Laundering (AML) payment risk is making onboarding very complex, though artificial intelligence (AI) is rapidly maturing and can help.
Onboarding used to be a simple matter of filling in a form and transferring assets. But “Know Your Customer” and Anti-Money Laundering regulations designed to vet a potential clients’ payment partners and history have mandated companies perform a detailed due diligence on their clients, and maintain a file of information regarding that due diligence.
Read the article of George Roth on Payments Sources