Regulatory Alerts2024-09-09
Added · Updated
Use of Artificial Intelligence for Monitoring of Suspicious Activities
The Hong Kong Monetary Authority highlights the benefits of adopting artificial intelligence to enhance anti-money laundering systems for Authorized Institutions. AI-empowered monitoring improves effectiveness by enabling wider data coverage and enhanced detection of complex suspicious typologies while reducing false positive alerts. These systems increase operational efficiency by streamlining alert handling and allow for improved sustainability through automated model retraining to address emerging financial crime risks.