“The Global Banking and Finance Review claims that cyberattacks have cost nearly $360 billion per year in losses every year or the past three years. In recent years, global ransomware attacks, such as WannaCry, have put financial institutions on edge, and many banks are now investing in artificial intelligence to combat hackers.” https://emerj.com/ai-sector-overviews/ai-cybersecurity-in-banking/
Tag: money laundering
What’s the new weapon against money laundering gangsters?
“Money laundering accounts for up to 5% of global GDP – or $2tn (£1.5tn) – every year, says the United Nations Office on Drugs and Crime. So banks and law enforcement agencies are turning to artificial intelligence (AI) to help combat the growing problem. But will it work? ‘Estimates suggest that not even 1% of…