From explanations to applications, the Understanding AI Column provides practical insight into AI for AML professionals interested in technology...but tired of hype.

Our regular contributor is Steve Cohen, COO and co-founder of Basis Technology. If you would like to contribute to this column or have any topics you would like to suggest, please email editor@acams.org.

The capacity to send and receive international payments through correspondent banking is critical to the global economy as financial institutions rely on these relationships to move their customers’ money. As a result of increased regulatory requirements and risk related to shell companies, correspondent banking relationship management...

In the present environment, roughly one in three organizations experience economic crime, only 50 percent of money laundering or terrorist financing occurrences are identified by system alerts and one in five banks are recipients of regulatory enforcement actions.1 The United Nations Office on Drugs and...

Does overthinking artificial intelligence result in self-inflicted suspicious activity reports (SARs)? Financial institutions not only pride themselves but are obliged to document when consumer activity goes astray. SAR authors who have an overreliance on the results of anti-money laundering (AML) detection/risk assessment software dutifully draft...