Hawk’s Post

Unlocking the power of synthetic data for AML 🤖 What is it? What benefits and concerns does it bring? Could it be the game-changer for AML models we've been waiting for? Tune in to this week's episode of The Laundry 🔴 with Dr Janet Bastiman from Napier AI, a leading expert in data science, to delve into the realm of synthetic data. In this episode, Fredrik Riiser cuts through the hype to explore how synthetic data can help compliance professionals spot financial crime patterns. They also tackle the remaining challenges, including built-in biases, the necessity of the human-in-the-loop, and Janet's thoughts on the term "AI hallucinations". https://lnkd.in/dGH4baif

❗Our webinar, "Using AI to detect FinCrime", in partnership with Hawk, is going live in 20 minutes at 4pm CET (3pm UK time) Join our webinar now and register for free here: https://lnkd.in/eBEDWAMj Don't miss our key takeaways: – How AI can help banks and payment firms to detect financial crime – How you make more accurate decisions by using AI in AML compliance – What are the best practices for introducing AI – How to avoid common pitfalls of implementing AI Join us now: https://lnkd.in/eBEDWAMj

2023 has been an amazing year for Harmoney. While it’s nice to reflect, we prefer to look ahead. With two main ingredients, we will continue to drive change in 2024 in managing compliance: - Continue enhancing workflow efficiency. Driving automation for KYC and KYT case management, involving all stakeholders. - Harnessing the full power of AI & automation. Adding more data-driven intelligence to our platform and into each step of the process. From AI-based AML screening to summarizing large data sets. Curious to find out more? Read the full blog: https://lnkd.in/ermHn2gS #Compliance #ComplianceManagement #DataDrivenChange #KYC #KYT #Harmoney

Are you getting the most out of AI for FinCrime prevention? Join us for our upcoming webinar, in partnership with Hawk, on Wednesday, 26th of June, where Michael Shearer, former Group Head of Compliance Product Management at HSBC, will share his first-hand experience implementing machine learning in a global bank's anti-financial crime operations. ➡ Register for free here: https://lnkd.in/eBEDWAMj   💡Discover the benefits financial institutions are experiencing with AI and learn how to overcome challenges in this evolving landscape. Register now for free and join our discussion next week! Key Takeaways: ✔ How AI can help banks and payment firms to detect financial crime ✔ How you make more accurate decisions by using AI in AML compliance ✔ What are the best practices for introducing AI ✔ How to avoid common pitfalls of implementing AI ➡ Access the webinar for free by registering here: https://lnkd.in/eBEDWAMj #FinCrimeprevention #TransformFinance #Financewebinar #

In a new podcast, Payments Cards & Mobile Managing Director Alex Rolfe is joined by Roy Prayikulam, SVP Risk and Fraud at INFORM GmbH - Optimization Software. The two discuss the present and future role of #artificialintelligence and #machinelearning in the fight against fraud and money laundering in financial services. The wide-ranging discussion will help anyone involved in risk management and fighting financial crime to better understand the current state of play regarding AI and ML – plus why they are essential not just today, but for the future as well https://lnkd.in/dkkYp7Wk

What are the pitfalls that you need to avoid when you're implementing AI to detect financial crime? AI is changing the game for anti-money laundering and financial crime detection, helping financial institutions to identify more criminal activity while reducing false positives. To help you get the most from AI, our Chief Solution Officer, Michael Shearer, has highlighted three things that should be avoided during implementation: - Rushing Data Collection - Early Training of AI Models - Insufficient Casework Training Michael provides more advice from his personal experience of implementing AI at a global bank in this article: https://lnkd.in/eqKCWmfT If you'd like to know more about how HAWK:AI can help your organization use AI for AML and fraud detection, book a demo with us today: https://hawk.ai/ #aml #fincrime #banking #financialinstitutions #compliance #ai #machinelearning #aiimplementation

HAWK:AI has treats in store if you're coming to the AML & ABC Forum in London on March 5-6! As well as Tony's Chocolonely chocolate bars, we'll be delivering an insightful presentation into how AI can help your AML operation. Join Will Rodd on Tuesday March 5th at 3pm for A Practical Guide for Implementing AI Into Your Anti-financial Crime Program. It's a great chance to gain insights on the AI adoption process - mitigating any risks, overcoming barriers, and realizing the significant benefits that AI can bring in detecting criminal activity and reducing false positives. If you can't make the AML & ABC Forum, join us instead on Tuesday March 19th on our webinar with ACAMS - our very own Michael Shearer, former Group Head of Compliance Product Management at HSBC, will be sharing his experiences of implementing machine learning in the anti-financial crime operation of a global bank. Register now: https://lnkd.in/eNpQ4bPM If we can work out how to share chocolate bars via webinar, we'll do that too! See you there! #aml #fincrime #acams #amlabcforum #webinar #ai #machinelearning #chocolate

Dive into our Case Study: How DataScience revolutionized AML & Fraud Management in a major bank. We're dedicated to driving efficiency and security through AI. #AMLSuccess #AIInnovation https://lnkd.in/dPm6Mb6T

💡 What do AI and anti-money laundering have to do with each other?   Our Chief Risk and Compliance Officer, Daryl Norman, recently spoke on a webinar with industry experts from FINTRAIL and ThetaRay on how we use AI to fight financial crime.   Click on the link below to learn how AI enhances AML detection, risk mitigation and compliance challenges. 👇 https://lnkd.in/dMAGedEt #WeAreTravelex #AI #AML

Reducing fincrime and risk through financial system monitoring and controls has been a mixed success. Despite the large investments made, it is never enough to keep pace with the increasing volume and sophistication of criminals. This whitepaper, written by our CTO, Peter Cousins, examines how generative AI can work in tandem with automation to help reduce financial crime and risk and transition traditional KYC to perpetual Know Your Customer (pKYC). #sanctions #financialcrime #aml #compliance #kyc #genai #ai #automation #operations