Press Releases

U.S. bank regulators encourage innovation, artificial intelligence, in AML compliance

December 11, 2018

WASHINGTON/NEW YORK(Thomson Reuters Regulatory Intelligence) – The U.S. Treasury Department’s anti-money laundering unit and the federal banking regulators issued a joint statement on Dec.3 to encourage banks and credit unions to consider “innovative approaches,” including new technology such as artificial intelligence, to enhance their AML compliance programs. The protection provided by the document may not be enough to convince financial institutions to invest, however, sources say.

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