How AML Monitoring Systems Help Fight Financial Crimes
Money laundering is a serious crime that involves concealing the true source and ownership of illegal funds through various transactions. This illegal activity can have serious consequences for individuals and the global economy, including terrorism financing, drug trafficking, human trafficking and organized crime. Therefore, governments, financial institutions, and regulators are constantly striving to combat money laundering and other financial crimes by implementing various measures such as anti-money laundering (AML) monitoring systems.
AML monitoring systems are designed to detect, prevent and report suspicious activities that may be indicative of money laundering or other financial crimes. These systems are powered by artificial intelligence and machine learning algorithms that ...