Korea to introduce AI to filter out financial crimes

To ramp up its contribution to global fights against money laundering and terrorism financing, South Korea will introduce an artificial intelligence-based system to better filter out financial crimes, said the country’s financial intelligence chief. Yoo Kwang-yeol, commissioner of the Korea Financial Intelligence Unit, said his agency is currently working to upgrade the main system that stores and analyzes information regarding hundreds of millions of financial transactions in order to increase accuracy of capturing suspicious transactions out of normal ones. “We are [...]