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Google’s New AI Tool: Anti-Money-Laundering for Banks | WSJ Tech News Briefing

Google Cloud and HSBC Join Forces to Reduce False Positives in Anti-Money Laundering Programs

  • Google Cloud has launched a new tool to reduce false positives in anti-money laundering programs
  • This tool eliminates the need for manually inputted rules and uses machine learning to more accurately identify suspicious activity
  • The tool was developed with HSBC, who reported a 60% reduction in false positives and 2-4x increase in true positives
  • There is still risk involved if the algorithm fails to identify suspicious activity.

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  • Original summaries that highlight the key points of your content
  • Customizable to fit your specific needs
  • AI-powered technology that ensures accuracy and comprehensiveness

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