Tag: U.S. Department of the Treasury

Financial institutions are increasingly aware that artificial intelligence (AI) could transform anti-money laundering (AML) operations. Yet adoption remains cautious. This hesitancy stands in sharp contrast...

When managing U.S. export controls and sanctions compliance, businesses often come across two key ownership-based rules: the Bureau of Industry and Security (BIS) 50%...

The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) has issued a critical alert to assist financial institutions in identifying and addressing fraud schemes involving deepfake media created with generative AI (GenAI) tools.

AI is progressively transforming the landscape of AML and KYC within financial institutions, aiming to amplify their efficiency, efficacy, and scale. According to Saifr,...