The anti-money laundering (AML) community is drowning in false positives. A 2018 review by Microsoft found most transaction monitoring systems have a 95%-99% false positive rate.1 Machine learning and artificial intelligence have been widely viewed as the solution to reducing the number of false...

Compliance systems’ technical limitations are both well-documented and perpetually frustrating to banks, corporations and regulators. Many of today’s technology firms and consultants promise regulators and banks that the current system is sustainable and that the inherent inefficiencies of standard operational processes can be cured...