Banks and financial institutions are struggling with fraud and money laundering, detecting only 2% of global financial crime despite increased spending. AI, particularly through the Norwegian fintech start-up Strise, is being utilized to enhance the Know Your Customer (KYC) process by identifying potential risks in real time. Strise's AI platform can flag high-risk individuals and companies, improving efficiency in onboarding processes. However, experts warn that while AI can reduce false positives, it may also decrease transparency and make errors harder to contest. Teljes cikk (Euronews.com)