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The Wolfsberg group released at the end of 2022 a set of 5 principles to guide financial institutions in identifying and managing the operational and reputational risks that could arise from the use of Artificial Intelligence and Machine Learning in financial crime compliance. In this video, I share my recap of those 5 Wolfsberg group principles.
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▬▬ CHAPTERS ▬▬
00:00 - Intro on machine learning in financial crime
01:51 - 1st principle: Legitimate purpose
02:33 - 2nd principle: Proportionate use
03:19 - 3rd principle: Design and Technical Expertise
04:15 - 4th principle: Accountability and oversight
05:06 - 5th principle: Transparency
✅ References:
The Wolfsberg Group: www.wolfsberg-principles.com/
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DISCLAIMER
This video is intended for general informational or entertainment purposes only. The information in this video is not intended to replace legal advice. The views and opinions expressed in this video are those of the speaker/s and do not necessarily reflect the original policy or position of people, institutions or organizations that the speaker/s may or may not be associated with in professional or personal capacity, unless explicitly stated. Furthermore, no endorsement of any criminal activity is expressed or implied.
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© Marco Beranzoni - All rights reserved
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