BlackSwan Technologies wins the "AML Product of the Year" award

For the AML Product of the Year, Risk.net’s judges favoured BlackSwan’s ELEMENT of Compliance application for using new approaches in the fight against money laundering.

Current AML methods include retrospective, rules-based and manual processes. Since the people behind money laundering schemes are using increasingly sophisticated techniques and regulatory procedures are becoming more stringent, harnessing AI and MachineLearning technologies as part of new, advanced techniques can help to thwart money launderers.