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Ankura

Facing the Auditing Challenge: Artificial Intelligence, Machine Learning, and Robotics in Financial Crime Compliance

Ankura on

As artificial intelligence (AI) becomes central to financial crime compliance -- powering fraud detection, transaction monitoring, and sanctions screening -- internal audit faces a new challenge: How do you provide assurance...more

Mintz - Antitrust Viewpoints

Financial Protection and Autonomous Systems: Recent CFPB Actions Focused on AI — AI: The Washington Report

Mintz - Antitrust Viewpoints on

Welcome to this week's issue of AI: The Washington Report, a joint undertaking of Mintz and its government affairs affiliate, ML Strategies. The accelerating advances in artificial intelligence (“AI”) and the practical,...more

Troutman Pepper Locke

CFPB Warns About Risks of Chatbot Use in Consumer Finance

Troutman Pepper Locke on

Yesterday, the Consumer Financial Protection Bureau (CFPB) issued a report analyzing the use of chatbots in consumer finance and the impact on customer service. The report notes that financial institutions are increasingly...more

Ankura

Factors to Be Considered by Financial Organizations for an Effective Transactional Monitoring System

Ankura on

The rising incidence of financial crime continues to haunt financial institutions globally. As per a recent industry report, more SARs (suspicious activity reports) were filed by ~80% of the firms in 2021. COVID-19 pandemic...more

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