Anti-Money Laundering and Transaction Monitoring Trends in 2022


Reykjavik, Iceland -- (SBWire) -- 09/06/2022 --Currently about $1.6 trillion in laundered funds pass through banks every year. However, an increased commitment to AML transaction monitoring has started to help banks, businesses - and regulators - to make more headway. Anti-money laundering and transaction monitoring trends in 2022 continue to bolster increased enforcement tactics as the movement towards tackling money laundering - a crime that fuels crime - continues to grow. These are some of the key anti-money laundering and transaction monitoring trends that are rising to the top in 2022.

- Identity verification. Many businesses currently have loopholes in existing processes when it comes to identity verification, which allow exploitation by criminals. Public registry reforms are going to have a key role to play in changing this, as well as technology such as biometrics and an increase in cybersecurity.
- Pattern recognition and monitoring. Transaction monitoring and looking for patterns have always been at the heart of anti-money laundering. Today, thanks to technology such as artificial intelligence this can be deployed on a much larger scale over bigger data sets.
- Automating economic crime investigations. Automation, in combination with artificial intelligence and robots, has a lot to offer which is why it is an anti-money laundering trend for 2022. Automation provides options to process investigations faster, increase the reach of AML systems and transaction monitoring and improve overall effectiveness.

Investing in robust transaction monitoring is another big trend for businesses in 2022. Using software such as that created by Lucinity, firms can not only improve transaction monitoring but also other anti-money laundering functions, including actor intelligence and reporting. The software has been designed to provide a wealth of benefits in terms of anti-money laundering and also to offer productivity upgrades at the same time. It is an approach that takes the benefits of human intelligence (such as planning and execution, creatively combining numbers and contextualising) and combines this with the best that artificial intelligence has to offer (crunching numbers, analysing big data patterns and assessing probabilities). The end result is software that brings a Human AI approach to anti-money laundering and transaction monitoring, giving firms the best possible chance of checking the advance of this global issue.

Ever since the firm was first established in 2018, Lucinity has been focused on making it easy for businesses all over the world to put effective anti-money laundering measures in place, including transaction monitoring. Today, with bases in London, Brussels and New York - as well as Reykjavik - Lucinity's reach is extensive. The team is working towards the objective of making money good, providing technology that enables organisations to work more effectively and implement greater anti-money laundering controls in a human-first way. This approach has arisen from core values that drive the vision of the business, which include information sharing and pursuing excellence with integrity and humility.

About Lucinity
Lucinity is an anti-money laundering (AML) software developer on a mission to Make Money Good. Lucinity aims to solve productivity and efficiency issues for financial institutions through the company's 'Human AI' approach, a toolset that combines next-generation AI with human insights and expertise.

By leveraging AI, the AML software learns from every interaction and continues to improve indefinitely, providing fewer false positives and saving time. This is on top of its best-in-class interface and visualizations that put users first. Professionals can experience Lucinity's AML compliance solution, including transaction monitoring, through a free demo environment available on

Lucinity operates globally, with headquarters in Reykjavík, and serves customers ranging from Tier-1 banks to FinTechs.

Company Quote

Founder and CEO, Guðmundur Kristjánsson, comments, "Lucinity's unique experience in banking, compliance, regulation, and data science has helped us develop a new approach to tackling money laundering—harnessing the best of human intelligence and augmenting it with advanced AI.

Our simple-to-use systems work with analysts, not against them, complementing their skills and making them superheroes so they can take on financial crime, saving institutions time and money in the process.

We believe that by transforming AML, we can have a tremendous positive impact on society. Money laundering is a crime that fuels crime. That is why we set out on the mission of Making Money Good."

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About Lucinity
Lucinity is an AML software company, founded in 2018, with offices in Reykjavík, New York, London and Brussels. Using advanced AI systems, we help banks discover money laundering and really know their customers, more efficiently – to stop the funding of serious crime across the world.

Media Relations Contact

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