https://techmonitor.ai/technology/ai-and-automation/google-cloud-launches-ai-powered-anti-money-laundering-tool

A new tool designed to help financial institutions detect money laundering has been launched by Google Cloud. Powered by artificial intelligence, the Anti Money Laundering AI (AML AI) service has already been tested by HSBC to monitor for suspicious activity.

Described as one of the biggest and most costly challenges facing the financial services sector, money laundering is an increasingly complex and global problem. According to Google, last year $2trn was laundered last year alone, with an average of between 2%-5% of global GDP pouring through the system annually.