Large banks and Nasdaq are applying artificial intelligence to the detection of bad behavior such as fraudulent account openings and market manipulation. The technology may spot misconduct where humans didn’t.
Violations of Bank Secrecy Act and anti-money-laundering compliance remain a hot topic for financial institutions as regulators can bar them from branch building and bank acquisitions. Here are some notable regulatory actions that are still unresolved.
Much of regtech focuses on automating compliance functions, but the human eye is still needed in some cases. Royal Bank of Canada and D+H have developed an assessment tool designed to help employees do their jobs better.