Cam Geer’s Post

Reflections on Anti-Money Laundering: Seeing Beyond the Surface Today I’m standing by a serene Japanese lake, the water perfectly mirroring the landscape around it. Trees and the sky above are reflected with such clarity that it feels like peering into another world. This beautiful scene is a powerful metaphor for the hidden world of money laundering and the critical role of anti-money laundering (AML) efforts in revealing and deterring illicit activities. The Hidden World of Money Laundering Money laundering operates beneath the surface, much like the serene yet deceptive stillness of the lake. Beneath this calm exterior lies a complex web of illicit financial activities designed to disguise the origins of illegally obtained money. Criminals use various methods to integrate these funds into the legitimate economy, making detection challenging. Turning the Image 90 Degrees: New Perspectives When you turn the image of the lake 90 degrees, each view offers a new perspective. This shift symbolizes the multifaceted approach required in AML: 1️⃣ First Turn (90 Degrees): Perspective: You might see the reflection of the sky and the treetops more prominently, representing the initial detection phase of AML. AML Action: In this phase, financial institutions use automated systems and alerts to identify suspicious activities and potential red flags. 2️⃣ Second Turn (180 Degrees): Perspective: Now, the landscape looks different, focusing on the midsection of trees. AML Action: This stage involves deeper analysis and investigation, where suspicious transactions are scrutinized, and patterns are analyzed to understand the nature of the activities. 3️⃣ Third Turn (270 Degrees): Perspective: Another shift shows a mix of the ground and lower sections of trees. AML Action: Here, AML efforts concentrate on due diligence and compliance checks, ensuring that all preventive measures and regulatory requirements are in place and effective. 4️⃣ Full Circle (360 Degrees): Perspective: Returning to the original view, but with a deeper understanding of the scene. AML Action: This stage is about reflection and adaptation, continuously updating AML strategies to stay ahead of emerging threats and evolving laundering techniques. Anti-Money Laundering: Detecting and Deterring AML programs are designed to penetrate the calm surface, revealing the hidden activities below. They encompass a range of strategies: Detection: Using sophisticated software and monitoring systems to identify and flag suspicious activities. Conclusion Just as the reflection on the lake reveals different aspects of the landscape with each turn, effective AML strategies require viewing financial activities from multiple angles. By continuously reflecting on and adapting AML practices, we can uncover the hidden world of money laundering and take decisive action to prevent it.o

AI abuse...nothing's lost in translation. OpenAI's Scarlett Johansson problem opens a Pandora's Box around deep fakes and the use of people's likenesses and work without their permission. In this case, the company had ChatGPT mimic the celebrity's voice and used it after she declined. While AI has the potential to change society for the better, we're certainly seeing the potential for the worse right now. At a time when the industry is facing scrutiny and lawsuits over the use of content, books and video among others in training AI models, the last thing anyone needs is an arrogant and cavalier attitude towards the consequences. From Hollywood writers and actors to authors and artists, discontent and fear about the potential for abuse with AI and the displacement of human beings from jobs have been growing. In addition, the tech industry certainly hasn't helped itself by laying off tens of thousands of workers in the name of AI. At a time when the industry has a critical opportunity to address public anxieties, it has continually missed the mark. In the broader scheme of things, voice over artists and actors are highly vulnerable. The current AI technology only requires a few lines from recordings to then fully develop dialogue and conversations indistinguishable from the human being. And as the technology advances, the rise of AI companions with human-like personalities could dramatically reshape society in unforeseen ways. Raising concerns about the prioritization of safety in advanced AI development, OpenAI disbanded its dedicated team last week after less than a year. Expect the legal landscape around AI and human rights to become increasingly complex, as evidenced by the Scarlett Johansson case https://lnkd.in/gzAuhgvy #chatgpt #openai #deepfake #scarlettjohansson #artificialintelligence #generativeai #technology #ethics #virtualassistant #aisafety

Verida's VDA Storage Credit Token (VDA) will soon be available for trading on multiple exchanges! Starting May 16th at 12:00 UTC, users can deposit and trade VDA on Gate.io and MEXC, marking a milestone in Verida's secure, self-sovereign storage solutions. Shortly after at 12:15 UTC, Community Presale participants will be able to claim their tokens, and DEX trading will be available on Uniswap and QuickSwap. The VDA token listing highlights Verida's growing value in the #web3 space. Verida Network offers secure, private database storage, empowering users to control their data. As the first self-sovereign decentralized storage network, Verida Wallet supports zk proofs, crypto, identity, data storage, and encrypted messaging. Read more on the VDA token listing, staking and getting started with Verida network: https://lnkd.in/denUvCSw

🌐 We are excited to announce the Global Launch of the Verida Storage Credit Token (VDA) on May 16th. This marks a significant milestone in revolutionizing private data management through decentralized technologies. 🔒 Introduction to VDA VDA is the driving force behind the Verida Network, a pioneering #DePIN network that ensures secure storage, sharing, and management of private data. This launch signifies a major advancement in decentralized database networks, offering users: - Data Ownership: Complete control over personal data. - Unparalleled Security: Robust protection using advanced cryptography. - Granular Control: Freedom to dictate the terms of data sharing. - Monetization Opportunities: Potential to monetize personal data securely. 💾 Network Incentives VDA incentivizes both node operators and end-users, promoting a dynamic ecosystem where everyone benefits from enhanced data security and accessibility. 🧠 AI and Privacy Initiatives VDA lays the groundwork for the development of #privacypreserving technologies. Users have the capability to train #AI models with securely stored data, enhancing both the utility and privacy of their personal information. “VDA represents a crucial step towards establishing a thriving private data economy,” said Chris Were, CEO of Verida. “By empowering users to control and monetize their data, we're building a more equitable and secure data ecosystem that benefits everyone.” Keep reading for an in-depth exploration 👇

Want to see a glimpse of the future of reusable ID? You’ve already seen it each time you walk through the airport: CLEAR I realized I can’t credibly host a podcast, post on LinkedIn, and write blog posts about reusable ID without first-hand experience with the largest and most well-adopted reusable identity products. Clear is at the top of that list. The key innovation of reusable ID is “transportable” trust. In other words, if I’ve established trust with Company A, reusable ID allows me to transport that trust to Company B. Clear allowed me to establish trust with the Transportation Security Administration (TSA) in-person—after a helpful employee enrolled me, I walked right through security in a breeze. It was a delightful experience. Establishing trust with the TSA one thing. But transporting that trust to another context is another. This morning I got on LinkedIn to see how Clear would facilitate this “trust transportation”. A few months ago, I posted about an experiment trying to get “verified” across all my social media profiles. It involved using my webcam/phone camera photographing my ID, taking selfies, etc. After ~5 mins each, LinkedIn and Twitter both couldn’t verify me. (Scanning gov’t ID docs is rife with problems like glare, low resolution cameras, people with glasses or new hairstyles, false negatives on deepfake detection, and more.) But this morning was different. In just ~20 seconds, Clear confirmed I’m the same person from the Airport kiosk with just a selfie. The trust originally established for the in-person TSA was transported to a remote LinkedIn situation successfully. Viola! This type of experience is the future of identity. Clear is doing some amazing things here, but they’re not the only one. Dozens of reusable ID products built for a variety of industries are emerging around the world. I plan on trying to use as many of these as I can over the coming months and share my authentic experiences here on LinkedIn. I also talk to the leaders of these ecosystems on Trinsic's podcast, the Future of Identity, including recent episodes with IDme, Auth0, Mastercard, Adobe, and many more. I’d love to invite you to tune in and share your feedback with me.