Purpose: Good quality input data is critical to developing a robust machine learning model for identifying possible money laundering transactions. McKinsey, during one of the conferences of ACAMS, attributed data quality as one of the reasons for struggling artificial intelligence use cases in...

Purpose: Transaction monitoring system set up by financial institutions is one of the most used ways to track money laundering and terrorist financing activities. While being effective to a large extent, the system generates very high false positives. With evolving patterns of financial...