AI could cut time for money laundering checks by 99%

Leading crypto exchange rolling out large language model for enhanced due diligence checks.

A leading cryptocurrency exchange has built a large language model (LLM) that its risk managers believe will cut the time for basic anti-money laundering (AML) checks by as much as 99%.

Speaking at a webinar on June 28, Ian Rooney, the head of enterprise compliance at Coinbase, said the company planned to roll out the LLM tool for enhanced due diligence (EDD) checks within the next month. He explained that it could reduce tasks “that we estimate, on average, would take an analyst about an hour

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe

You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Waterstechnology? View our subscription options

Register for free

Access two articles, our IMD and Waters Wraps, plus a member newsletter. Find out more.

All fields are mandatory unless otherwise highlighted.

This address will be used to create your account

The Waters Cooler: What is going on?

Is it weird that Euronext bought Substantive? It’s weird, right? Plus WFIC, tick sizes, Microsoft and BlackRock want more datacenters for some reason, and, of course, AI. What does it all mean?

Most read articles loading...

You need to sign in to use this feature. If you don’t have a WatersTechnology account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here