In 2021 the European Commission launched a legislative process to address weaknesses in the EU’s fight against financial crime and terrorist financing. These shortcomings consist mainly of divergent national rules, fragmented approaches to anti-money laundering (AML), combatting the financing of terrorism (CFT) and a lack...

There is not a more fitting metaphor than Pandoras Jar1 in describing the entry of artificial intelligence (AI) into our society. Pandora’s “box” is a historical mistranslation;2 an inaccuracy. It was described as Panadoras Jar. The application of AI and machine learning in financial crime...