AML

AI is making significant strides in the realm of financial crime compliance. Coined as ‘agentic AI’ or autonomous AI, these AI systems are designed to function independently with minimal human oversight. According to Workfusion, AI agents, as they’re known, can decide, plan, and adapt to fulfill predefined objectives effectively. WorkFusion, a pioneer in this field, launched …

Sanctions screening is an integral aspect of AML practices, ensuring organisations do not inadvertently engage with entities or individuals subject to international or national sanctions, thereby avoiding facilitating unlawful activities. According to FullCircl, as global security landscapes evolve, the significance of maintaining a robust sanctions screening process has never been more critical. Sanctions are punitive or …

Choosing between building your own anti-money laundering (AML) screening or monitoring tools and buying from a provider is not as straightforward as it might seem. According to Salv, who recently put together an ebook on the topic of building your own AML screening or monitoring tools, while creating internal solutions may appear to offer greater control and …