The use of AI in combatting financial crime
Panellist at a session convened by Standard Chartered’s Financial Crime Surveillance Operations, on the opportunities and pitfalls of applying artificial intelligence to financial crime detection. Alongside speakers from Deloitte and UEM Sunrise.
Financial crime surveillance is one of the few places where an institution is already comfortable acting on the output of a model it cannot fully explain: an alert is raised, a human reviews it, and the decision is documented. That makes it a useful test of what AI governance has to answer for in practice rather than in principle.
The pitfalls discussed are the ones that recur: models that drift without anyone noticing, alert volumes that rise faster than the team reviewing them, and the difficulty of showing a regulator how a decision was reached when the reasoning sits inside a system nobody in the room built.