
New AI based Anti-Money Laundering Tool Released By Google Cloud
By Aarti Dhapte , 27 June, 2023
Google Cloud launched a new AI (artificial intelligence) based anti-money-laundering tool on June 2023. Newly developed AI-driven tools will help banks as the company focuses on making itself unique among the surveillance platforms with less human input for processing the screening of money-laundering risks.
Like other tools, the new tool developed by Google will use machine learning to help its customers follow the rules in the financial sector to report any potential activity on suspicion. It is specifically designed to focus on retail and commercial banking along with helping customers with its features. It can also explain the situation to the risk manager, auditors, and analysts. According to Google, anti-money laundering (AML) AI has two pricing categories – AML score depends on the number of customers for banking services billed per day; and Model training and tuning considers the number of banking customers in the input datasets usages.
There are several benefits to the newly launched AML tool by Google, such as it can detect up to 3-4 times to confirm suspicious activities to strengthen the AML program. It can reduce false positives by up to 60 percent and is highly disciplined to gain explainable outputs of regulatory compliance and internal risk management. According to Google Cloud, customers cannot give their own rules as input but can customize their tools by using their own risk indicators. This development by Google will give new heights to artificial intelligence technology to have an excellent approach to processing AML tools.
Anti- Money Laundring (AML) Software Solution Market Size In The Forecast Period (2018-2027)

Latest News

The Plant-Based Surge: New Meat Alternatives Hitting APAC Shelves Market 2025 is benefitting from an innovation cycle, a change in diet preferences, and sustainability needs. There is an emerging focus from start-ups, universities, and global food…

The global packaging industry is projected to have a sharp increase in the consumption of recycled polymers in relation to sustainability goals by 2025. This change is likely caused by regulations, business commitments to sustainability, and advances…

The Flexible Packaging Market’s role in reducing food waste in 2025 is becoming increasingly pivotal as governments, food producers, and packaging companies align around sustainability targets. With global food waste exceeding 1.3 billion tons…

In 2025, the CnM (Composites and Materials) Market is witnessing a pivotal shift as green chemistry startups accelerate the production of bio-based resins, driven by regulatory pressures and sustainability commitments across industries. The momentum…

In the first quarter of 2025, India experienced a remarkable decline of 12 percent in the cost of solar photovoltaic (PV) systems for the first time in history. This is a turning point for the country's renewable energy sector. The improvements in…

Team Lead - Research
Latest News




