US: PANDEMIC SPURS BANKS’ AI ADOPTION FOR AML

On 10 August, Cision PR Newswire carried a release saying that a third of financial institutions are accelerating their AI and machine learning adoption for AML technology in response to COVID-19.  Meanwhile, another 39% of compliance professionals said their AI/ML adoption plans will continue unabated, despite the pandemic’s disruption.  These industry trends and others are explored in a new study by SAS, KPMG and the Association of Certified Anti-Money Laundering Specialists (ACAMS).

https://www.prnewswire.com/news-releases/pandemic-spurs-banks-ai-adoption-for-aml-sas-study-shows-301351614.html

https://www.sas.com/content/sascom/en_us/offers/21q2/acceleration-through-adversity.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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