AI and ML Redefining Anti Money Laundering (AML) Solutions for Banks - Wipro

Harry1227 Jan, 2022Technology

Globally and in India, managing financial crime has been a major challenge. Regulators across the world have introduced several guidelines and taken measures to detect, prevent and tackle money laundering activities. The Indian banking industry has experienced considerable challenges in adhering to and complying with the financial crime guidelines on account of the new patterns the guidelines are evolving on a continuous basis for carrying out money laundering activities that remain undetected by the traditional rule-based system.