How Financial Crime Is Being Thwarted By AI, ML

  • “The new Playbook states that “banks have reported increased fraud detection rates of up to 50 percent through the use of these technologies, but the tools are still used by only a minority of FIs around the world.”
  • “Banks are deploying AI-based systems in record numbers, with more than $217 billion spent on AI’s applications for middle-office use cases like fraud prevention and risk assessment. These investments are paying off,” according to the new Preventing Financial Crimes Playbook.”

https://www.google.com/amp/s/www.pymnts.com/news/security-and-risk/2020/how-financial-crime-is-being-thwarted-by-ai-ml/amp/

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