Current legacy AML solutions used by banks are rule-based systems that provide only basic coverage limited to the scope of the rules, said Singaporean AML regtech provider Tookitaki. According to the firm, which derives its name from the Bengali term for ‘hide and seek’, fraudsters and money launderers who are aware of these rules are able to exploit these systems…
Machine learning essential for sustainable AML compliance programs: Tookitaki
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