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ML in AML: Applying Data Science & AI to Tackle International Financial Crime

Since the borders of AI application across industries have not been discovered yet, let's look at a matter of fighting sophisticated crime schemes, in particular, money laundering. The economic effects of money laundering are vast and highly destructive since money laundering is a problem not only in the world's major financial markets and offshore centers, but also for emerging markets – any country integrated into the international financial system is at risk.

Global money laundering transactions are estimated at 2 to 5% of global GDP, or roughly $1–2 trillion annually. Yet, according to the United Nations Office on Drugs and Crime (

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