Podcast: QuantaVerse Discusses Top Financial Crime Trends in 2017 and Identifies What’s Next in 2018

At the turn of another year, we have dedicated this edition of our On the Front Line with AI podcast to the top financial crime trends we saw in 2017 and what can be expected in the year ahead. Some of the key highlights from the discussion with anti-money laundering (AML) expert and Founder & CEO of QuantaVerse, David McLaughlin, include: Top Financial Crime Trends in 2017 Cybersecurity and instances of cyberattacks, especially account takeovers […]

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2018 Resolution: Disrupt Narco-Terrorism Cells with Artificial Intelligence and Machine Learning

Local, state, federal, and international law enforcement agencies are frontline heroes tasked with combatting international drug trafficking, terrorism and money laundering. Unfortunately, their contributions and sacrifices often go unnoticed in the 24-hour news cycle filled with the political news of the day.  Consider the U.S. Drug Enforcement Administration (DEA)’s Special Operations Division (SOD) which is a joint task force of all federal law enforcement agencies in Northern Virginia. SOD is staffed with the most dedicated, […]

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Implementing AI and Machine Learning Benefits Big Businesses, Supports the Fight Against Bribery and Corruption with Expanded Pilot Program and ‘CAE Checkup’

In many parts of the world, acts of bribery and corruption have long been accepted as the cost of doing business. However, global law enforcement is becoming increasingly cooperative in investigating these violations as countries realize how massive amounts of their sovereign wealth is stolen from their economies through these crimes.  In fact, 27 companies were required to pay a paralyzing $2.48 billion in fines and penalties to resolve U.S. Foreign Corrupt Practice Act (FCPA) […]

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Reducing ICO Participant Risk with AI-Powered KYC Due Diligence

Initial coin offerings, or ICOs, are creating a substantial amount of buzz, debate and discussion in the blockchain and cryptocurrency industry as well as within financial institutions and their regulators. ICOs, also referred to as “token sales,” are a relatively new fundraising phenomenon used to launch new companies or fund a development project. In an ICO campaign, tokens are sold to early investors of a project in exchange for cryptocurrencies, such as Bitcoin or Ether. […]

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Artificial Intelligence Can Identify Absence of Normal Business Activity, Indicating Possible Risk of Financial Crime

Within financial services, transactional data and supplementary information are vital to the success of financial crime investigations. However, cases that lack typical business activities such as employee payroll or availability of freight receipts could be red flags that indicate possible financial crimes such as human trafficking or trade-based money laundering. Legacy, rules-based TMS engines won’t trigger alerts if normal business activities are not present because, simply, they can’t identify what they can’t see. On the […]

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