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Using Artificial Intelligence in the fight against Money Laundering

By Maris Bonello 

Kindred partners with BetBuddy and City University of London to research how Artificial Intelligence (AI) can be used towards Anti-Money Laundering (AML) initiatives. One of the results from the partnership is an industry white paper, titled, "Raising standards in compliance: Application of artificial intelligence to online data to identify anomalous behaviours".

For years, we have made big investments in our research-based approach towards developing our systems and tools. We work with the best researchers and a variety of organisations to make sure we stay at the forefront of developments in this area. Back in 2017, Kindred announced a joint research collaboration with BetBuddy and City University of London. The partnership involves sponsoring a PhD student over a minimum of three years, where the aim is to investigate how we can use deep learning and AI techniques to advance AML initiatives. The white paper presents the initial findings from the ongoing project.

Collaboration across research, regulators, operators and other partners is crucial if we are to improve techniques and tools to fight fraudulent behaviour across digital platforms. At Kindred, we believe that engaging in research such as this will encourage more transparency and help bridge the work done by operators and academia.

The next phase of the project involves using real data from Kindred to examine the advancement on the challenges identified in the first findings. The industry white paper can be read in full here.