Tag: U.S. Department of the Treasury

Financial institutions are under growing pressure to strengthen anti-money laundering (AML) controls while managing rising compliance costs. Artificial intelligence (AI) is widely seen as part...

The Bureau of Industry and Security (BIS) and the Office of Foreign Assets Control (OFAC) both apply a 50% ownership threshold to determine regulatory...

The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) has issued a critical alert to assist financial institutions in identifying and addressing fraud schemes involving deepfake media created with generative AI (GenAI) tools.

AI is progressively transforming the landscape of AML and KYC within financial institutions, aiming to amplify their efficiency, efficacy, and scale.