THE ROLE OF ARTIFICIAL INTELLIGENCE-BASED SOLUTIONS IN ANTI-MONEY LAUNDERING COMPLIANCE
Keywords:
Anti-Money Laundering, Compliance, AI-based solutions, real-time analysis, false positives, enhanced risk assessment, regulatory complianceAbstract
In this study, we will explore the role of artificial intelligence-based solutions in tackling Anti-Money Laundering efforts of commercial banks with due focus on efficiency enhancement in solving various tasks. Particular attention will be paid on the applicability of AI-based solutions in Anti-Money Laundering Compliance units of commercial banks in conditions of Uzbekistan. The study will reveal that the use of AI-based technologies in AML Compliance enhances efficiency leading to decrease of time and costs while processing customer transactions and increase overall performance of these units in commercial banks.
References
Russell, S., & Norvig, P. (2016). “Artificial Intelligence: A Modern Approach.”
Agrawal, A., Gans, J., & Goldfarb, A. (2018). “Prediction Machines: The Simple Economics of Artificial Intelligence.”
Binns, R. (2018). “Fairness in Machine Learning: Lessons from Political Philosophy.”
