VIDEO
08:14 AM 8th July 2025 GMT+00:00
AI and Collaboration in the Fight Against Financial Crime
By Editors
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Irene Liu and Catherine Lee from Accenture discuss SoW due diligence requirements, the use of AI agents in AML/CFT, and the role of PPPs and information sharing platforms like COSMIC in financial crime detection and prevention efforts.
Accenture has been involved in several initiatives in Singapore's fight against financial crime. In this video, Irene Liu, Managing Director and Finance, Risk, and Regulatory Compliance Lead for SEA, and Catherine Lee, Managing Director, Risk & Compliance Lead for SEA, discuss the practical difficulties banks face in meeting new source of wealth (SoW) due diligence requirements and how they can leverage advanced technologies to overcome these challenges.
Liu and Lee explore various use cases for AI agents in AML/CFT, the critical importance of data quality and governance, and the role of public-private partnerships and information sharing platforms like COSMIC in improving detection rates. Looking ahead, they discuss the future of financial crime compliance, the increasing sophistication of criminals who also leverage AI, and the need for the industry to expand collaboration across borders.
