ThetaRay, a global leader in Cognitive AI financial crime compliance, today released a landmark study on the future of anti-money laundering in Europe. The study warns that Europe's anti-money laundering AML system is approaching structural failure, and that financial institutions will be unable to meet upcoming supervisory expectations without advanced AI-driven monitoring and customer-screening systems.
The report, "Next-Generation AML Solutions: An Analysis of AI-Based Tools vis-a-vis the Reform of the European AML Institutional and Substantive Architecture," offers some of the most comprehensive examinations to date of how the EU's sweeping AML reform package and the Artificial Intelligence Act will reshape compliance across the region.
Co-authored by Prof. Andrea Minto, a leading authority on EU financial regulation at Ca' Foscari University of Venice and the University of Stavanger, and Yaron Hazan, ThetaRay's Vice President of Regulatory Affairs, Advisory board member at the AI APAC Institute and former Head of Compliance at HSBC Israel, the study blends academic rigor with supervisory and operational expertise rarely found in a single publication.
