Tag: model governance

Financial institutions are grappling with increasingly sophisticated financial crimes, ranging from money laundering to sanctions evasion.

As artificial intelligence (AI) continues to advance, its role in financial crime prevention is growing, with organisations now considering AI as a foundational element in their risk management strategies.

Amidst growing acknowledgment of AI's prowess in uncovering fraud and financial crime, there remains a gap between those financial institutions (FIs) recognising its potential and those implementing it.