Can artificial intelligence, RegTech and CharityTech provide effective solutions for anti-money laundering and counter-terror financing initiatives in charitable fundraising

Singh, C. and Lin, W. (2021) Can artificial intelligence, RegTech and CharityTech provide effective solutions for anti-money laundering and counter-terror financing initiatives in charitable fundraising. Journal of Money Laundering Control, 24 (3). pp. 464-482. ISSN 1368-5201 doi: 10.1108/JMLC-09-2020-0100

Abstract/Summary

Purpose: Machine learning is having a major impact on Banking, Law and other organisations. The speed with which this technology is developing to undertake tasks that are complex and technical but also time consuming and that are subject to constantly changing parameters is astounding. The purpose of this article is to explore the extent to which machine learning can be used as solution to lighten the compliance and regulatory burden on charitable organisations in the United Kingdom; so that they can comply with their regulatory duties and develop a coherent and streamlined action plan in relation to technological investment. Design/methodology/approach: The subject is approached through the analysis of data, literature, and domestic and international regulation. The first part of the article summarises the extent of current regulatory obligations faced by charities, these are then, in the second part, set against the potential technological solutions provided by machine learning as at July 2021. Findings: It is suggested that charities can utilise machine learning as a smart technological solution to ease the regulatory burden they face in a growing and impactful sector. Originality: The work is original because it is the first to specifically explore how machine learning as a technological advance can assist charities in meeting the regulatory compliance challenge.

Item Type	Article
URI	https://reading-clone.eprints-hosting.org/id/eprint/110605
Identification Number/DOI	10.1108/JMLC-09-2020-0100
Refereed	Yes
Divisions	No Reading authors. Back catalogue items
Publisher	Emerald Insight
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