News

Transaction-monitoring systems must draw from multiple datasets and make the most of artificial intelligence to fight the epidemic of fraud plaguing Europe, the head of France's central bank said Wednesday. Faced with an unprecedented surge in online scams and other types of fraud, banks must augment or replace their "static, one-dimensional" monitoring systems with next-generation, AI-boosted software, Francois Villeroy de Galhau, governor of Banque de France since 2015, warned attendees of The Assembly Europe 2025, an ACAMS-hosted conference in Paris. "As we want and need faster payments, we also need faster detection without obviously being flooded with false positives," Villeroy...