Banks invest 1.4 billion euros annually in tackling money laundering, but they still fall far short of detecting all the criminal billions. The hope is that, with the help of learning computer systems, the risk of money laundering can be better assessed. But the criminals are also learning, an expert warns. So banks should step up their game. “The correct use of artificial intelligence can save the financial sector millions every year.”
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16 billion euros in criminal money are laundered every year: this is what banks can do
