Financial Crime report puts spotlight on innovations and AI

Rising compliance costs, innovations in payments, convergence of cybercrime and money laundering all red flags, says ComplyAdvantage.

Firms must invest in technology and highly skilled teams with individuals who can navigate hostile threats alongside regulatory changes and technological innovations, ComplyAdvantage says in The State of Financial Crime 2024.

Some key findings and questions asked were:

  • AI and automation: 89% of firms say they’re comfortable compromizing explainability for
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