Reuters | Canada's anti-money laundering body to leverage AI bets to crack down on bad actors

In below article from Reuters, Canada's anti-money laundering agency is increasing its reliance on artificial intelligence (AI) to detect suspicious transactions, betting the use of the latest technology will help better fight financial crimes, a top official said.

The Financial Transactions and Reports Analysis Centre (FINTRAC) raised a few eyebrows last month when it fined the country's two biggest banks - Royal Bank of Canada (RY.TO) and CIBC (CM.TO) - for a total of C$9 million ($6.7 million) for violations that included failing to submit suspicious transaction reports, setting a record for fines issued on individual banks.....

Canada's anti-money laundering body to leverage AI bets to crack down on bad actors | Reuters