Anti-Money Laundering (AML) in the Artificial Intelligence (AI) Era

By Susan Hu

According to the United Nations Office on Drugs and Crime (UNODC), the estimated amount of money laundered globally in one year is 2 - 5% of global GDP, or $800 billion - $2 trillion U.S. dollars. As stated by Thomson Reuters, in the U.S. alone, financial institutions are currently spending about $8 billion U.S. dollars a year on AML compliance.

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