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Data science and AI will save banks from sanctions

Banks have a duty to assess the risk of cooperation with customers and contracting parties and to screen all operations carried out by customers for any illegal transactions, financing of crime, terrorism or money laundering. In industry jargon, this field of banking risk management is called AML. A financial institution may pay dearly for failing to fulfil its obligations in this area, says Adam J. Kępa, VP and Head of Growth at ITMAGINATION on

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