Clausematch’s Post

At the forefront of ethical communication and non-financial misconduct, the recent updated policy statements from the FCA has sparked crucial discussions. Listen to my take on this significant FCA pivot.   ...and do you want to hear the types of AI biases compliance teams should watch out for when deploying models for surveillance? Register here for FStech RegTech Live on 27 Feb and join me on The AI Revolution panel with the Financial Conduct Authority, BNP Paribas and techUK to continue the conversation. https://lnkd.in/eHVVUM_W #SexismInTheCity #FCA #EthicalAI #RegTech #ConductRisk

Last night ACCESS Events APAC hosted a Melbourne Wine Tatsing evening on behalf of SymphonyAI Whilst tasting three different wines our speakers David “DJ” Baker and Nick Davison kicked off the discussions with…. “Unshackling Compliance Operations: How Generative AI is Breaking the Mould in AML Technology.” Since the implementation of Anti-Money Laundering legislation, a relentless cycle has unfurled, consistently driving up the expense and complexity of AML compliance for financial institutions. Regulatory mandates propel the adoption of novel technological solutions, and the successful integration of these technologies catalyses an increase in the sophistication of criminal tactics, which in turn precipitates the need for further regulation. While modern data platforms, cloud computing, and modular software architectures can provide sufficient technological agility to stay ahead of the criminal curve, the addition of GenAI is giving financial institutions a formidable edge in building sustainable financial crime operations. This discussion involves real-world applications and showcases how GenAI helps build seamless investigator-machine interfaces, analyse large volumes of unstructured data, and accelerate risk mitigation procedures. GenAI presents an opportunity to shift the narrative from compliance as a sunk cost to a strategic enabler for business growth and enhanced protection against financial crime. #cro #risk #financialcrime #winetasting #roundtable #access Tom Bailey

📣 ✨ How is artificial intelligence transforming the financial services industry? From portfolio management to AML compliance, this report explores trends in #AI adoption by financial institutions. Key areas covered: ✅ Evaluating whether AI is outperforming human asset managers as an investment portfolio manager. ✅ Examining the effectiveness of AI in responding to anti-money laundering controls and customer due diligence. ✅ Assessing the role of AI in compiling and disclosing sustainability information and green money laundering reporting. ✅ Reviewing the impact of AI on the detection/prevention of financial crime, from fraud to money laundering - will it enhance or hinder? 🔗 👉 Download the white paper here: https://lnkd.in/enFRJdYn. Ananda Kautz (ABBL) | Claude Marx (Commission de Surveillance du Secteur Financier (CSSF)) | Olivier Carré (PwC Luxembourg) | Nasir Zubairi (The LHoFT - Luxembourg House of Financial Technology) | Romit Choudhury (Softbrik) A document crafted by the VitalBriefing team: David Schrieberg, Simon Gray, Ethan Schrieberg, Andrew Eatwell and Anna Fox. #aifinance #artificialintelligenceforbusiness #investmentmanagement #fundmanagement

Our Financial Crime and Regulatory Compliance expert Naveen Maher attended The RegTech Association & Regtech Solutions webinar on Unlocking the Future of Financial Crime. She shares her key takeaways with us: 💻 Digitalization Priority: The webinar highlighted the role of digitalization in combating financial crime. It discussed how digital solutions are streamlining compliance processes and enhancing the ability to detect and prevent financial crimes. 📈 New FINTRAC Requirements: The discussion included the new requirements introduced by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). The emphasis was on how these requirements are designed to strengthen the fight against financial crime and on what businesses should consider in meeting these requirements efficiently. 💡 Generative AI: The potential of generative AI in the fight against financial crime was a key point. The discussion explored how generative AI can create new data for testing and training models, enhancing the ability to detect suspicious patterns and anticipate potential risks. 🚨 Impact on Financial Crime: Advancements in RegTech are revolutionizing the fight against financial crimes. This included the use of machine learning algorithms for pattern recognition and AI-powered predictive analytics for risk anticipation. #financialcrime #generativeAI #artificialintelligence #regulation #digitization

This week, we've compiled critical updates and consultations from around the globe that will enhance compliance, effectiveness, and transparency. From Panama’s focus on anti-money laundering collaborations at the FATF forum to Malta’s advancements in digital operational resilience and FCA's new Anti-Greenwashing guidelines, our latest blog post provides actionable insights that are crucial for maintaining resilient operations in today's fast-evolving regulatory landscape. Read the complete blog here: https://lnkd.in/eMAte26H #Regulatoryupdate #regulation #finrege #AI #compliance

🌟 Don't miss out on this event! Join us at the conference organised by ABBL and Arendt & Medernach as we delve into the fascinating world of AI and its impacts on the financial sector. 🤖 Get the perspective of the regulators, Commission de Surveillance du Secteur Financier (CSSF) and CNPD - Commission nationale pour la protection des données, insights from the financial industry and hear from Marc Mouton, the fintech guru, and me on this crucial topic. 🚀 Save the date and secure your spot now! #conference #ai #aiact #financialsector #regulatory #dataprotection #ip Anna CurridoriMarc Lemmer Anne Goujon, BGL BNP Paribas Ananda KautzMarc Mouton

Greatly looking forward to attending the Global Regtech Summit tomorrow. Lots of interesting talks are on the agenda, but the Evolving Nature of AI and Regulatory Compliance is sure to be a particular highlight of mine! #compliance #regtech #GRTS24

🌟 𝐇𝐨𝐰 𝐜𝐚𝐧 𝐀𝐫𝐭𝐢𝐟𝐢𝐜𝐢𝐚𝐥 𝐈𝐧𝐭𝐞𝐥𝐥𝐢𝐠𝐞𝐧𝐜𝐞 𝐥𝐞𝐚𝐝 𝐭𝐨 (𝐮𝐧)𝐬𝐮𝐜𝐜𝐞𝐬𝐬𝐟𝐮𝐥 𝐟𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐜𝐫𝐢𝐦𝐞 𝐜𝐨𝐦𝐩𝐥𝐢𝐚𝐧𝐜𝐞 🌟 In an era dominated by technological advancements, it is undeniable that artificial intelligence is omnipresent in our day-to-day business. In the last few years, this technology has also been acknowledged as one with great possibilities in the domain of financial crime compliance. Adopting to this trend and successfully mitigating the associated risks, will continue to be a key priority for financial institutions in the upcoming years. Therefore, we should always stay aware of both AI's strengths and weaknesses in this domain. Curious to see which are the main elements? 𝐂𝐡𝐞𝐜𝐤 𝐨𝐮𝐭 𝐭𝐡𝐞 𝐚𝐫𝐭𝐢𝐜𝐥𝐞 𝐬𝐞𝐜𝐭𝐢𝐨𝐧 𝐨𝐧 𝐨𝐮𝐫 𝐩𝐫𝐨𝐟𝐢𝐥𝐞! #NORRIQFS #ArtificialIntelligence #FinancialSector #Compliance #Business

🤖 The forthcoming AI Act will revolutionise the landscape of artificial intelligence regulation in the EU and constitutes the world's first comprehensive AI legislation. The final text is expected to be adopted in the coming weeks. 👨 Our experts Astrid Wagner, Partner in IP, Communication & Technology, and Marc Mouton, Partner in Banking & Financial Services will share their point of view, especially on legal and regulatory aspects. They will analyse and discuss this crucial topic with complementary experts: Anna Curridori, Commission de Surveillance du Secteur Financier (CSSF) | Marc Lemmer, CNPD - Commission nationale pour la protection des données | Anne Goujon, BGL BNP Paribas | Ananda Kautz, ABBL 📅 The conference is organised by the Luxembourg Bankers' Association (ABBL) and Arendt & Medernach. It will take place on 28 February, at 11:30AM at Arendt House. Find out more about the event and register > https://lnkd.in/e9AZMb_k Learn more about Arendt’s: 🤖 IP, Communication & Technology practice > https://lnkd.in/epJYMRk 🏦 Banking & Financial Services practice > https://lnkd.in/dQWjmGf #Luxembourg #law #regulation #banking #finance #AI #artificialintelligence #risk #riskmanagement #AIAct #digitalisation #cybersecurity #dataprotection #GDPR #FinancialSector #LuxembourgFinance #ABBL #Arendt

SARS Escalates Enforcement Measures as South Africa's Tax Revenue take an upward trend due to Leveraging AI and Machine Learning to unearth non Compliance. The SARS Compliance Program has been wielding the power of data, artificial intelligence, and machine learning algorithms to tackle criminality and non-compliance head-on. It isn't just about enforcement. It's also ensuring that legitimate refunds are rightfully granted while staunchly guarding against impermissible and fraudulent claims. According to the report by SARS ,by the first quarter, the compliance program had already contributed a staggering preliminary R293.7 billion. which according to the same reports, is a remarkable increase of R61.9 billion, or 26.7%, from the previous year's total of R231.8 billion. #SARS #ComplianceProgramme #AI #MachineLearning #TaxEnforcement #Innovation #TaxNews #TaxCompliance #TaxEnforcement #RevenueGeneration #FinancialIntegrity #FraudPrevention #DataAnalytics #FinancialSecurity #FiscalPolicy #DigitalTransformation #TechInnovation #FinancialRegulation #RegulatoryCompliance #Transparency #transparentTaxation #PolicyMaking #ComplianceTech image by Creamer Media's Donna Slater