Resistance AI
Resistant AI CEO Rehak said:
Prague (PRWEB)
May 9, 2023
Resistant AI, a specialist in financial crime prevention using AI and machine learning, today announced that Malta’s largest bank, the Bank of Valletta, has adopted its transaction forensics product for anti-money laundering (AML). This allows banks to prevent and detect transactions suspected of being involved in money laundering or sanctions evasion.
Traditionally, a bank’s transaction surveillance process consisted of reporting suspicious transactions (value, sender, recipient) to law enforcement or regulatory agencies after processing. As sanctions against the Russian regime tighten, forward-looking banks are increasingly seeking to prevent criminals from using their services for illegal purposes by halting abnormal transactions in real time.
Bank of Valletta’s use of Resistant AI’s innovative transaction monitoring capabilities is one of the first of its kind by a large bank. AI-powered monitoring is real-time, allowing banks to better protect against financial crime in line with regulatory changes and internal risk assessments. It can receive massive amounts of real-time data and process it in seconds to uncover patterns and anomalies that indicate suspicious activity.
Resistant AI’s technology adds sophistication to banks’ transaction monitoring capabilities without requiring a major overhaul of their current systems. Bank of Valletta Money Laundering Reporting Officer Ryan Caruana said:
We chose Resistant AI based on its ability to provide best-in-class analytics. said Martin Rehak, his CEO and founder of Resistant AI. Our focus on using innovative AI to enhance our customers’ existing technology is an ideal response to the rapidly changing regulatory environment around money laundering and overhauling the entire system. It provides a convenient way to improve your company’s capabilities without having to. “
About resistance AI
Resistant AI was founded in Prague in 2019 by a team with deep expertise in machine learning, artificial intelligence, and computer security. The same team behind Cognitive Security, which was sold to Cisco in 2013, they have decades of experience tackling the ever-changing nature of financial crime. Resistant AI has developed cutting-edge machine learning techniques to help protect financial services from manipulation and attack. The company’s solutions already protect many banks, insurers and fintech companies across the customer lifecycle, preventing document forgery, chain of custody, synthetic IDs, account takeover, money laundering and threats. It has been used to detect other evolving risks that it poses. financial institution. For more information, please visit: https://resistant.ai/
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