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11 June 2018 0 min read

Machine learning for financial crime professionals

Machine learning has the potential to revolutionise the current industry approach to Financial Crime. There has been a lack of innovation in Anti-Money Laundering (AML) and sanctions technology since it was first introduced at the turn of the century – for many organisations it is simply no longer fit-for-purpose.

 

Machine learning offers the opportunity to identify financial crime more accurately and efficiently, whilst improving customer experience and reducing reputational risk. In order to harness this potential, financial crime professionals must develop a ‘working knowledge’ of this discipline.


Machine learning has the potential to revolutionise the current industry approach to Financial Crime. There has been a lack of innovation in Anti-Money Laundering (AML) and sanctions technology since it was first introduced at the turn of the century – for many organisations it is simply no longer fit-for-purpose. Machine learning offers the opportunity to identify financial crime more accurately and efficiently, whilst improving customer experience and reducing reputational risk. In order to harness this potential, financial crime professionals must develop a ‘working knowledge’ of this discipline.
 

Overview

This article is intended to help make machine learning more accessible to financial crime (FC) professionals, especially those working in AML and sanctions. It discusses each of the topics described below in more detail to help establish a foundation for recognising the benefits of machine learning models (MLMs) within your organisation.

Viewpoint

To learn how machine learning has the potential to revolutionise the industry approach to financial crime read our Viewpoint

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