Explainability Of Algorithms In The Fight Against Money Laundering
  • Astrid Bertrand
- blog entry
According to Europol's estimates, 200 billion euros of criminal funds circulate each year in Europe, and only 1% of these illicit financial flows are seized. Current anti-money laundering systems therefore have a great deal of room for improvement, particularly in order to counter increasingly sophisticated criminal methods. AI is proving to be a great help in improving the anti-money laundering system but, at the same time, it creates new forms of risk for individuals. This is where explainability comes in.