Launderbots, or why your AML is no longer fit for purpose

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Presented by

Jan Philippaerts VP Compliance Currencycloud, Kathy Gormley Solutions Engineer and James Brodhurst Consultant - Resistant AI

About this talk

Those 200 limited-edition Yeezys that were just scalped off a custom footwear store by an army of bots weren’t just doing it for the markup. They’re doing it to launder money. The regular barriers between fraud and financial crime are breaking down. Criminals leverage automation and AI to test the gaps in your AML rules, hit the overlaps between your risk and compliance teams, and move their money in and out of your system at unprecedented speeds. When the new army of money mules in your system aren’t even real, how do you keep up? Join our session and find out. You’ll learn: How new FinTech business models require a rethink of traditional AML systems and controls. What the key success factors are for thriving in this new age. The role that tech and AI play in supporting scaling businesses to remain compliant. Why AI explainability is vital and multi-faceted.
Related topics:
Cyber Attacks
Cyber Security
Compliance
Risk Management
Fintech Security
Fintech
Financial Services
Artificial Intelligence
Machine Learning
Automation

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