The role of ML in AML (Anti-Money Laundering)
As financial institutions face increasingly complex money laundering activites, traditional rules-based AML systems are becoming less efficient for real-time monitoring and detection. This talk will highlight the current challenges faced by banks in this space and discuss how Machine Learning algorithms can be used to 'learn' from past behaviors to increase efficiency and identify previously undetected transactional patterns and relationships.
Kishore Karra is the lead reviewer of models used in Anti-Money Laundering at JP Morgan Chase. In this role, he assesses and mitigates risk posed by models used for the purposes of Sanctions Screening and Transaction Monitoring. Kishore holds a Master's degree in Mathematics from Rutgers University and an MBA from the Indian School of Business.