Trends Report

How Generative AI Will Influence Fraud Management And Anti-Money Laundering

September 26th, 2024
With contributors:
Merritt Maxim , Hailey DiCicco

Summary

While enterprise fraud management (EFM) and anti-money-laundering (AML) solutions already use AI/ML models, generative AI (genAI) brings significant new benefits to fraud management and AML (FRAML) initiatives, including improved customer experience (CX), more accurate fraud management, and more efficient operations. This report looks at genAI’s key business value, the algorithms it uses, and its use cases, risks, and best practices in the context of FRAML.

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