Ruben Aguero Quinteros

Machine Learning and Robotic Process Automation: the Next Steps in AML Technology

By Ruben Aguero Quinteros | October 25, 2019

Since the passage of the Bank Secrecy Act in 1970, FIs have looked for ways to automate elements of their AML compliance programs. Early automation included integration of exemption lists with teller systems, automatic printing of CTRs, accumulation of CTR information for bulk filing, integrating OFAC list screening with transaction processing systems and use of rules based systems to identify potentially suspicious transactions. More recently with the broadening of FI delivery channels, the rising cost…

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A fifth pillar has been added after the finalization of the “CDD Rule.” As with all changes to AML compliance programs, these program revisions impact the other pillars of an FI’s program. Learn more in this article:

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