Anti-Money Laundering (AML) , Artificial Intelligence & Machine Learning , Fraud Management & Cybercrime

Using Machine Learning to Fight Money Laundering

Insights on Using New Technologies to Crack Down on Fraud
Andy Gandhi, managing director, data risk and compliance at Alvarez and Marsal

Machine learning can play a significant role in mitigating money laundering risks, says Andy Gandhi, managing director, data risk and compliance at the consultancy Alvarez and Marsal. (See: Leveraging Analytics for Fraud Audits)

See Also: Safeguarding against GenAI Cyberthreats with Zero Trust

“Different companies are attacking the problem from different perspectives,” Gandhi says. Machine learning helps financial institutions to know their customers independent of their regular transactions, which helps in reducing fraud, he says.

In this video interview with Information Security Media Group, Gandhi also discusses:

  • The difficulties of implementing machine learning at financial institutions;
  • How other industries are leveraging machine learning to mitigate fraud;
  • The challenges involved in cracking down on money laundering.

Gandhi is managing director, data risk and compliance, at the New York-based consultancy Alvarez and Marsal. He has more than 18 years of experience conducting and leading information risk investigations and compliance exercises, leveraging computer forensics, cybersecurity, e-discovery and data analysis expertise. He leads the firm’s digital investigations group and co-leads its AML/BSA and KYC financial crime compliance initiatives.

About the Author

Suparna Goswami

Suparna Goswami

Associate Editor, ISMG

Goswami has more than 10 years of experience in the field of journalism. She has covered a variety of beats including global macro economy, fintech, startups and other business trends. Before joining ISMG, she contributed for Forbes Asia, where she wrote about the Indian startup ecosystem. She has also worked with UK-based International Finance Magazine and leading Indian newspapers, such as DNA and Times of India.

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