AI to fight money laundering

Co-hosted by ODSC (https://odsc.com/) the largest Data Science conference!

Agenda

18:00/18:05 Leonardo De Marchi (Head of Data Science and Analytics @MagicLab)

18:05/18:35 Wojtek Buczynski (Senior Manager @ Fidelity International)
How Artificial Intelligence can help combat money laundering

18:30/ 18L50 Luca Primerano Active Learning to improve performance of anomaly detection systems in transaction monitoring
(Chief AI Officer @ Napier)
19:00 Closing remarks

Please register for the Zoom event: https://us02web.zoom.us/webinar/register/WN_DKJl7dn-TQesF5QOiA6H4Q

Wojtek Buczynski 18:00/18:30 How Artificial Intelligence can help combat money laundering

Money laundering is the act of funneling proceeds of crime into the global financial system so that – through series of complicated and opaque operations – its illegal origin is effectively obscured, and the money appears legitimate (i.e. “laundered”).
Anti-Money Laundering (AML) is a function within each bank or investment manager. Its role is detecting and preventing proceeds of crime entering the financial system through their organisation. Failure of AML function may lead to huge regulatory fines and reputational damage. Conducting AML checks in a manual fashion is
inefficient, not scalable, and very expensive.
Enter Artificial Intelligence. AML is at its core a huge data analysis task. It’s about finding hidden (intentionally hidden) patterns, clustering seemingly disparate agents and flows, and tracing complex money flows. AML is a perfect use case for AI, and one in which AI can make a huge positive impact relatively quickly.

Luca Primerano 18:35/ 18:55
Title: Active Learning to improve performance of anomaly detection systems in transaction monitoring