FinCrime Tech AI: We believe that artificial intelligence is the future of the fight against money laundering and terrorist financing.

FinCrimeTech AI
2 min readMay 18, 2021

1- The effectiveness of AI-based solutions in preventing and detecting new advanced fraud patterns.
The traditional methods and solutions to fight against money laundering based on algorithms and basic rules, are ineffective and obsolete in the face of new fraud schemes which appear to be increasingly sophisticated. Artificial intelligence-based solutions are very effective in leveraging most recent supervised and unsupervised learning techniques to discover anomalies and improve the detection breadth.

2- Avoid financial losses.
More than $8 billion in AML fines handed out in 2019, with the USA and UK leading the charge. This is double the amount, and nearly double the value, of penalties handed out in 2018, when 29 fines of $4.27bn were imposed.It is expected to worsen in the future in the face of growing complexity of financial fraud.

3- Avoid reputational damage.
Do you know how much it can cost your organization, being non-compliance with AML laws beyond fines? Your reputation. It may impact your organization’s profitability and damage its reputation.

Be proactive in your financial risk & compliance management strategy, let Artificial Intelligence drive it for you.

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FinCrimeTech AI

Let AI drive your financial crime risk & compliance. We provide an AI-Powered analytics platform that helps institutions fight financial crime more efficiently.