IS BIG DATA BEING HANDCUFFED IN THE FIGHT AGAINST GLOBAL FINANCIAL CRIME?

On 28th September, Thomson Reuters Financial & Risk published an article referring to a recent report published jointly by Thomson Reuters (which provides the World-Check tools) and leading American think tank The Atlantic Council: Big Data, A Twenty-First century Arms Race.  It argues that the data revolution, “big data”, is creating a new toolkit for banks, law enforcement agencies and regulators to combat financial crime, yet the ability to identify illicit money flows and reveal hidden relationships could be impeded by conflicting privacy laws (such as GDPR and the EU “right to be forgotten”) and inconsistent financial regulation across the globe (despite the efforts of FATF).

https://www.jdsupra.com/legalnews/is-big-data-being-handcuffed-in-the-31079/

The report is available at –

https://risk.thomsonreuters.com/en/resources/special-report/atlantic-council-report-big-data.html


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Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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