DBS Group CEO Piyush Gupta has stated that Singapore's anti-money-laundering regime is robust, with banks investing heavily in anti-fraud technology. However, Gupta noted that no system is foolproof. Major banks in Singapore have recently been linked to a large money-laundering case. Despite this, Gupta believes that banks have become more cautious since the global financial crisis, investing in technology such as artificial intelligence (AI) to better understand customers and detect suspicious transactions.
from Banking/Finance-Industry-Economic Times https://ift.tt/6SF7lms
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