Login

News on Medial

Financial Intelligence Unit arms itself with AI, ML tools to check money laundering

Economic TimesEconomic Times · 6m
Financial Intelligence Unit arms itself with AI, ML tools to check money laundering

India's Financial Intelligence Unit (FIU) has upgraded its information technology system to version 2.0, incorporating artificial intelligence and machine learning tools. The system is designed to combat money laundering and terrorist financing by analyzing suspicious transaction reports flagged by banks and other financial institutions. The upgrade aims to enhance data processing and dissemination of financial intelligence, with features such as risk scoring, advanced analytics, and natural language processing. The system comprises three sub-systems for information collection, analytics, and dissemination of reports to law enforcement agencies. Data security measures, including encryption and access control, are also implemented.

5
View Source

Comments

More Like this

Binance, Kucoin, and OKX expelled from Apple App Store amid Indian regulatory pressure

Binance, Kucoin, and OKX expelled from Apple App Store amid Indian regulatory pressure

PayPal registers with FIU under anti-money laundering law; ends six-year long battle

PayPal registers with FIU under anti-money laundering law; ends six-year long battle

Binance Likely To Resume India Operations As FIU-Registered Entity

Binance Likely To Resume India Operations As FIU-Registered Entity

AI advances risk facilitating cyber crime, top US officials say

AI advances risk facilitating cyber crime, top US officials say

FIU issues notice to Binance, 8 other offshore crypto platforms, writes to MeitY for blocking of URLs

FIU issues notice to Binance, 8 other offshore crypto platforms, writes to MeitY for blocking of URLs

After Six-Year Battle, PayPal Registers With FIU Under Anti Money Laundering Law

After Six-Year Battle, PayPal Registers With FIU Under Anti Money Laundering Law

After Apple, Google also removes Binance, Kraken, other crypto apps from Play store in India

After Apple, Google also removes Binance, Kraken, other crypto apps from Play store in India

Binance Resumes Operations In India

Binance Resumes Operations In India

FIU, ED Seek Report From RBI On Paytm

FIU, ED Seek Report From RBI On Paytm

Crypto Exchange Binance Gets INR 722 Cr GST Demand Notice

Crypto Exchange Binance Gets INR 722 Cr GST Demand Notice

Download the medial app to read full posts, comements and news.