Regulatory Alerts2024-09-09
Added · Updated
Use of Artificial Intelligence for Monitoring of Suspicious Activities
The Circular Instruction on Reporting (CIR) issued on 09 September 2024 provides regulatory guidance on the application of artificial intelligence for monitoring suspicious activities. It directs all authorized institutions to enhance their Anti-Money Laundering and Countering the Financing of Terrorism controls by leveraging AI technologies. This directive aligns with previous thematic reviews and reports aimed at improving the effectiveness and operational efficiency of financial crime monitoring systems.