Money laundering process stages: How Wells Fargo Uses AI, Biometrics To Fight Money Laundering

With fraud attempts continually on the rise around the world, financial institutions have their work cut out for them. They must remain fully compliant with regulatory standards and combat fast-learning fraudsters while maintaining a frictionless customer experience. As a result, banks are discovering that artificial intelligence (AI) is becoming useful when it comes to anti-money laundering (AML) and other types of fraud protection — in fact, it is fundamentally changing how financial institutions (FIs) verify users’ identities or validate transactions.

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