AML/CTF/CPF
Industry News
The report explores the risks, use cases, and challenges associated with AI.
Key findings include:
➡️ Firms are increasingly using AI systems to enhance compliance and surveillance particularly in AML/CTF measures;
➡️ Recent advancements in AI are making firms consider how to leverage its benefits for internal processes and risk management;
➡️ Commonly cited risks include malicious use, model and data considerations, third-party dependencies, and interactions between humans and AI;
➡️ Some firms are integrating AI into existing governance frameworks while others are creating bespoke structures; and
➡️ Regulators are similarly divided with some integrating AI into current regulatory frameworks while others are developing a unique approach.
✅ Firms should review AI governance structures, ensuring they are robust while fully leveraging the benefits of AI.
💡 Plenitude’s AI Assurance Practice assesses clients’ governance frameworks, helping to develop clear standards for auditable AI practices. Visit our website for more information: https://www.plenitudeconsulting.com/services/ai-assurance-services
