With artificial intelligence against money laundering
published atOctober 5, 2020Tags:innovations
With artificial intelligence against money laundering
The IT and Bank Security Directorate of OTP Bank signed a cooperation agreement with the Southeast European Law Enforcement Center (SELEC) to facilitate and support the combat against money laundering and terrorism financing through a regular exchange of information between the credit institution and SELEC.
The signing of the cooperation agreement enables the IT and Bank Security Directorate of OTP Bank and the Southeast European Law Enforcement Center to cooperate even more effectively in the combat against a special area of organised crime, money laundering and terrorism financing.
Through its subsidiaries, OTP Group has a presence in 7 SELEC Member States. The cooperation is set to speed up and ease the information exchange and knowledge sharing between the Bank and SELEC, improving the efficiency and effectiveness of cross-border efforts against money laundering and terrorism financing. Joint action will also be efficiently supported by artificial intelligence and Big Data databases.
Comprising eleven Member States, the mission of SELEC – as an organisation implementing swift information exchange and joint regional operations – is to stand up against, among other things, cross-border organised crime.
SELEC Member States: Albania, Bosnia and Herzegovina, Bulgaria, Greece, North Macedonia, Moldova, Montenegro, Romania, Serbia, Turkey and Hungary.