How machine learning can stop terrorists from money laundering
01 Dec 2016

Big Data and analytics will become a vital tool in detecting and preventing advanced money laundering schemes used to fund terrorist activity.

For criminal operations to run and for terrorist organizations to receive the funding they need to operate, money is required. We’ve come far from the days of cloak-and-dagger meetings in person and dodgy deals in the shadows when it comes to money laundering; and instead, law enforcement and banks are facing complex schemes which are becoming increasingly difficult for humans to both detect and prevent.

In an interview with ZDNet, Mark Gazit, CEO of cybersecurity firm ThetaRay said that while billions of dollars are lost through cyberfraud every year, we can “safely assume” that a “significant” portion of this amount involves money laundering.

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