05157nam 22006615 450 991073579160332120230719203813.0981-9925-71-110.1007/978-981-99-2571-1(MiAaPQ)EBC30656994(Au-PeEL)EBL30656994(DE-He213)978-981-99-2571-1(PPN)272254258(EXLCZ)992767501050004120230719d2023 u| 0engurcnu||||||||txtrdacontentcrdamediacrrdacarrierArtificial Intelligence Applications in Banking and Financial Services[electronic resource] Anti Money Laundering and Compliance /by Abhishek Gupta, Dwijendra Nath Dwivedi, Jigar Shah1st ed. 2023.Singapore :Springer Nature Singapore :Imprint: Springer,2023.1 online resource (147 pages)Future of Business and Finance,2662-2475Print version: Gupta, Abhishek Artificial Intelligence Applications in Banking and Financial Services Singapore : Springer Singapore Pte. Limited,c2023 9789819925704 Chapter 1: Introduction to financial crimes and its participants -- Chapter 2: Anti financial crimes organization overview in a financial institution -- Chapter 3: Financial institutions approach to curbing and mitigating financial crimes -- Chapter 4: IT solutions for monitoring and managing financial crimes -- Chapter 5: Typical challenges faced by AML and compliance divisions -- Chapter 6: Applications of artificial intelligence and digitization in financial crimes -- Chapter 7: Data organization and governance in financial crimes -- Chapter 8: Machine learning approach to customer due diligence and watchlist monitoring -- Chapter 9: Applying machine learning for transaction monitoring to optimize false positives -- Chapter 10: application of network analysis to further improve detection of financial crimes -- Chapter 11: AML investigation and application of digitization and machine learning for saving investigation time -- Chapter 12: Futuristic enterprise level AI driven Financial Crime Investigation unit (FCU) for a financial institution.This book discusses all aspects of money laundering, starting from traditional approach to financial crimes to artificial intelligence-enabled solutions. It also discusses the regulators approach to curb financial crimes and how syndication among financial institutions can create a robust ecosystem for monitoring and managing financial crimes. It opens with an introduction to financial crimes for a financial institution, the context of financial crimes, and its various participants. Various types of money laundering, terrorist financing, and dealing with watch list entities are also part of the discussion. Through its twelve chapters, the book provides an overview of ways in which financial institutions deal with financial crimes; various IT solutions for monitoring and managing financial crimes; data organization and governance in the financial crimes context; machine learning and artificial intelligence (AI) in financial crimes; customer-level transaction monitoring system; machine learning-driven alert optimization; AML investigation; bias and ethical pitfalls in machine learning; and enterprise-level AI-driven Financial Crime Investigation (FCI) unit. There is also an Appendix which contains a detailed review of various data sciences approaches that are popular among practitioners. The book discusses each topic through real-life experiences. It also leverages the experience of Chief Compliance Officers of some large organizations to showcase real challenges that heads of large organizations face while dealing with this sensitive topic. It thus delivers a hands-on guide for setting up, managing, and transforming into a best-in-class financial crimes management unit. It is thus an invaluable resource for researchers, students, corporates, and industry watchers alike.Future of Business and Finance,2662-2475Financial engineeringArtificial intelligenceMathematical optimizationCrimeTechnologyFinancial Technology and InnovationArtificial IntelligenceOptimizationCrime and TechnologyFinancial engineering.Artificial intelligence.Mathematical optimization.Crime.Technology.Financial Technology and Innovation.Artificial Intelligence.Optimization.Crime and Technology.332.028563Gupta Abhishek957613Dwivedi Dwijendra Nath1379211Shah Jigar1379212MiAaPQMiAaPQMiAaPQBOOK9910735791603321Artificial Intelligence Applications in Banking and Financial Services3418685UNINA