AML Platforms ‘Are Just Not Working’—Is Human Error or Tech the Culprit?

Technologies meant to detect and stop financial crime may add more headaches than they relieve. Others say that the best tech can't overcome how bankers use these tools. The AML dilemma likely falls somewhere in the middle.

money in briefcase

Despite the introduction of machine learning, natural language processing, and the burgeoning field of regtech tools to help firms fight financial crime, banks are still falling victim to—and perpetuating—money laundering, a de facto economy in its own right that amounts to an estimated $800 billion to $2 trillion globally, according to statistics by the United Nations’ Office on Drugs and Crime.

Legal experts and some vendors of these technologies attribute this to a disjointed approach to

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Tick History – Query: Looking back to the future

The advantages of cloud-based services is well documented, from reduced upfront and ongoing operating and infrastructure costs to improved time-to-market for new services and datasets. Here, Tim Anderson, LSEG explains how the benefits of the service…

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