AI For Combating Anti Money Laundering (AML)

The Problem

As criminals get more sophisticated with time, banks need to use cutting edge technologies to stay one step ahead of the offenders. Traditional Anti Money Laundering (AML) tools are proving to be ineffective, with several detection systems failing to provide accurate results owing to outdated rules and constraints.

Given the large volumes of data involved in AML compliance and increasingly complex criminal methodologies, banks must find innovative ways to meet their regulatory obligations.

Solution

Kranium can be used to deploy comprehensive Machine Learning models to increase the accuracy of detection of suspicious activities, while considerably reducing false positives. The models can be used to analyse large volumes of data and raise a red flag if something unusual is found about a transaction. In addition, Kranium models can also provide explanations as to why transactions were flagged suspicious.