The majority of us are unaffected by financial crime, at least not directly. Unless we’ve had our bank accounts hacked, or our identity stolen and used for fraud, it’s unlikely that we would’ve suffered at the hands of money launderers and criminals who cheat the financial system. Yet financial crime and money laundering is a significant and pervasive problem with estimates placing it at around 2 -5 % of the Global GDP! Thats anywhere between 800 billion and 2 trillion USD every year in funds that are used to manufacture and distribute drugs, finance terrorism and human trafficking, amongst many other ailments that affect our societies today.
We had the unique opportunity to chat to Guðmundur Kristjánsson, CEO and Founder at Lucinity, an Icelandic company that has grown out of a strong conviction to equip the hardworking individuals fighting financial crime with cutting edge technology. Through teh use of Human AI, Lucinity aims to improve Financial Crime fighting productivity making it more difficult and more expensive for criminals to operate. In this conversation, you’ll learn more about how this visionary company employs the best of technology, behavioural insights and human capabilities to supercharge financial crime fighters. Listen to how thanks to Lucinty’s solutions, people at the frontline of anti-money laundering can make decisions in split seconds that would’ve previously taken hours and how Lucinity is enabling collaboration amongst industry players to build resilience against criminals.