safeAML is here to change the game for money laundering.
safeAML is the result of years for research and legal consultation. Together with our amazing partners we developed a solution that is compliant with all data protection laws and at the same time lean in data usage. safeAML enables banks for the first time to digitally connect suspicious data and rebuild the networks of criminal transactions.
Prepare for a game-changing advancement in money laundering detection with safeAML, the innovative product stemming from the accomplished research initiative, safeFBDC. During the three years of the project, spotixx worked with Deutsche Börse and Hawk to develop a cutting-edge AML solution on shared data. Leveraging the collaborative efforts of the data trustee EuroDaT and leading financial institutions in Germany, safeAML will enable banks to seamlessly correlate suspicious transactions and initiate source of funds checks. As development progresses, safeAML will equip banks with the capability to unveil concealed patterns of money laundering activities. Strict data protection protocols are adhered to at all times.
The speed at which artificial intelligence is currently evolving is unprecedented. It offers incredible potential to change a market that is slow to adapt to change. But with the successful implementation of reliable and understandable AI, that supports humans in their daily work and gives them better results, anything is possible. We believe that fighting financial crime is an ongoing evolutionary process: fraudsters and criminals try to exploit any potential flaw in our systems. With AI, these systems can detect fraudulent behavior faster and more accurately. Thus enabling investigators to improve reactions and speed up criminal investigations.
how does safeAML work?
Step 1: Bank A sends suspicious transactions to safeAML.
Step 2: safeAML requests connected transactions from Banks B and C in multiple iterations.
Step 3: safeAML stores anonymised network in a trusted data store.
Step 4: safeAML creates graphs and returns to Bank A.
Step 5: Investigator at Bank A reviews graphs and executes next neccesary steps.
Key features of safeAML
- Automate source of funds checks
- Seamlessly correlate suspicious transactions across multi-bank data
- Uncover hidden network patterns of money laundering activities
safeAML enables banks to seamlessly correlate suspicious transactions and investigate sources of funds. As development progresses, the application will enable banks to uncover hidden patterns of money laundering activity, all while adhering to strict data protection protocols.
Committed to data privacy, safeAML complies with GDPR regulations, ensuring that personal data is handled with the highest level of security and integrity. EuroDaT, owned by the reputable state of Hessen, guarantees the reliability and trustworthiness of data management practices.
want to know more?
Leo Hattenbach,
Regional Head
Western Europe & Nordics
Mirza Kusturica,
Regional Head
Central & Southern Europe
Reach out to our experienced consultants Leo Hattenbach and Mirza Kusturica to find our more about safeAML and how AI can level you up in the money laundering detection and prevention game. Use our message form here or click on their image to find them on LinkedIn.
