AI’s ability to process large volumes of data with speed and accuracy can potentially transform regulatory compliance — but not without attendant risk and challenges. In the short term, the technology can be used to assist business leaders to understand compliance requirements easily and take apposite action, but circumventing human intelligence and our ability to think ethically and abstractly makes AI’s role in compliance controversial and complex.
The more things change, the more they stay the same. This time last year, we summarized the top 10 ESG stories of 2021, and those three letters continued to dominate our coverage this year. But we brought you much more than that, including coverage of FCPA enforcement actions, ethical lapses ...
Read moreSpending on artificial intelligence across all sectors is expected to more than double by 2025, but Nigel Cannings of Intelligent Voice is here to throw some cold water on that hot trend — and bring a bit of well-earned wisdom. Artificial intelligence has, justifiably, been embraced as a labor-saving productivity ...
Read moreIn this day and age, compliance risks can come from anywhere. Sean Freidlin of Hanzo discusses some of the chief ways innovative marketing campaigns can expose the organization to risk, provides three examples of current risky strategies and offers lessons for the compliance practitioner. Every department in an organization is ...
Read moreIn the #MeToo era, with allegations of workplace misconduct on the rise, organizations need a quick and accurate way to evaluate claims. Hanzo’s Sean Freidlin asserts that the internet is a hotbed of potential evidence — if you can sort through it and make sense of it all. They say, ...
Read moreDisruptive technologies like AI, cryptocurrency, biometrics and blockchain have taken the world by storm, but fintech regulations have struggled to keep pace. While technological advancement is often propelled by the private sector — such as big tech, startups and venture capital funding — regulatory change is constrained by lengthy and convoluted legislative processes. Although the ...
Read moreAnkura Consulting Group, a global expert services and advisory firm, has acquired Noragh Analytics. Terms of the deal between the two D.C.-area firms were not disclosed, but the acquisition is aimed at enabling Ankura to enhance and expand its data and technology offerings thanks to Noragh’s advanced, real-time analytics. Noragh’s ...
Read moreFraud prevention platform nSure.ai has raised $18 million in Series A funding, led by MoreTech Ventures with additional investments by seed-round participants, including DisruptiveAI, Gryffin Ventures and Moneta Seeds. Tel Aviv-based nSure.ai uses real-time fraud protection backed by AI, and its most frequent customers are in the prepaid and gaming ...
Read moreMOSTLY AI, an Austrian data privacy startup, has raised $25 million in Series B funding led by Molten Ventures with participation from existing investors Earlybird and 42CAP and new investor Citi Ventures. The Series B funding announcement comes just shy of two years after a $5 million Series A round, ...
Read moreFrom recruitment to retention, technology has long been crucial to effective workforce management. And while companies may be flocking to tools powered by AI and machine learning, a New York City law set to go into effect in 2023 calls attention to the need to ensure that automated tools don’t ...
Read moreCalifornia-based Trustero is making a RegTech splash, announcing that it has exited stealth, raised $8 million in seed funding and achieved SOC2 type 1 certification for its newly available compliance-as-a-service platform. Zetta Venture Partners led the round with participation from Engineering Capital and Vertex Ventures. “As software industry veterans and ...
Read moreTo police financial crime, more businesses are incorporating artificial intelligence — machine learning, in particular — into monitoring, prevention and compliance programs. CCI interviewed Leslie Bailey, vice president of financial crime compliance strategy at LexisNexis Risk Solutions, who insists the most effective programs are built on a foundation of advanced ...
Read moreIncreasing financial inclusion can advance numerous UN Sustainable Development Goals and improve equity worldwide. But doing so is risky for banks, and customers with no financial history may face high interest rates regardless. Though AI can be biased, Anand Pandey argues that the benefits of using predictive machine learning to ...
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