According to the press release, sanctions on this scale have dramatic consequences. They exclude many individuals and organisations from the global financial system. As a direct consequence, they open the floodgates to widespread, creative evasion attempts by financial criminals.
The addition of Resistant AI's capabilities to ComplyAdvantage's transaction risk monitoring platform will extend AML protections offered to financial institutions, enabling them to detect previously unknown patterns of behaviour and identify new risks. The combined solution will also help to detect clusters of related transactions and entities, as well as provide alert prioritisation, enabling financial institutions to focus on risk areas and use their resources.
ComplyAdvantage company officials stated that they know the bad actors will leverage technology and advanced analytics to continue raising the stakes. Even subtle patterns of behaviour can reveal attempts to evade sanctions and ultimately large financial losses. However, they want to assure businesses that there is a way to respond, with tools like purpose-built AI and risk monitoring for fighting back.
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