7 Results
Garima Chaudhary Global Head of Solution Eng, FinCrime & Compliance at Oracle
It is estimated that 1% of the European Union’s wealth—roughly €160 billion—is linked to suspicious activity (source). Despite various anti-money laundering (AML) directives over the years, the EU has lacked a centralized authority to consistently enforce and supervise AML efforts across Member States. While the European Central Bank’s Single Supe...
16 June 2025 /regulation /crime Banking Regulations
There’s a new subset of artificial intelligence/machine learning (ML) that are taking over news feeds called Generative AI aka Gen AI. As compared to where traditional ML model output predicts, classify or cluster, Gen AI as the name suggests aims to create new content like text, video, audio, image, or code from the training data. Encouraged by...
22 July 2024 /ai /crime Artificial Intelligence and Financial Services
Introduction The Financial Conduct Authority (FCA), the regulator of financial markets in the U.K., flexed its muscles in March of this year when it launched its first attempted prosecution for anti-money laundering (AML) failings against NatWest. A couple of months later, David Geale, the Director of Retail Banking and Payments Supervision for th...
20 October 2021 /regulation /crime Financial Services Regulation
The current financial crime compliance management efforts are based on a combination of automated but static analysis of a pre-determined set of risk factors, together with human judgement. Legacy systems are updated with new algorithms and manually inputted information, generating matrixes for risk interpretation and action, but these very rarely...
08 September 2021 /regulation /crime Innovation in Financial Services
The United Nations Office of Drug Crime estimates that $800 billion to $2 trillion, or 2-5% of global GDP, is laundered globally every year. What is driving this massive amount of money laundering? After drug trafficking, human trafficking is the second top motive for money laundering. Forced labor generates over $150 billion per year by robbing ...
02 February 2021 /regulation /crime Innovation in Financial Services
Drug Trafficking Is Widespread Drug trafficking is a global problem—and despite decades of research, regulations, and enforcement, it remains a $400 billion global business. Government ministries and agencies around the world continuously monitor and research illicit drug markets to gain a more comprehensive understanding of this nefarious industr...
26 January 2021 /regulation /crime Innovation in Financial Services
Money Laundering and Its Impact on Wildlife Every year, the illegal wildlife trade—which includes the smuggling, poaching, capture, and collection of endangered species and protected wildlife—threatens many animal species with extinction. Demand for rhino horn—which is more expensive than gold—resulted in the extinction of Africa’s western black r...
20 January 2021 /regulation /crime Financial Services Regulation
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