Topic: One law that can end money laundering all over the world?

Resolution:
Money laundering enables criminal organizations to disguise the origin of their illegal proceeds,
which can lead to economic instability, funding of terrorism, and loss of public trust in the
financial system.We should make it mandatory for banks to flag suspicious transactions. There
should be a process of validating the identity of an individual who wants to gain access to your
services. The process enables easy verification of customer data, and allows you to pinpoint if
your clients are the people they claim to be.This procedure is conducted through various means,
such as identification documents, facial recognition, fingerprint scans, and financial statements.
All in all, optimizing your customer verification processes will enable you to stay in line with the
law while protecting all of your company’s stakeholders.As an extension of the same law, banks
should rate clients according to their risk of laundering money.In this system, relevant
information of a customer is evaluated for potential terrorist funding or money laundering risk.
They are verified and screened against databases, including government records, sanctions
screening, and watchlists. Similarly, businesses are rated according to their registration. Your
company may accomplish this online by contacting the trade standards authority or a local
government agency that maintains this information. The company will also have to make sure
that all the security systems are up to date.

Why Money Laundering is Bad:

- Economic Instability
- Funding of Terrorisim
- Loss of Public Trust
- Leads to More Crime
- As a result of crime the overall image and livability of the country decreases
- More People Leave The Country
- And then the amount of exports decreases as financially stable people with good
professions will leave
- Leading to Collapse

Idea:
- The Following will be mandatory for all non government and government organizations
- Use A.I to recognize patterns and make them figure out instances of money laundering
- Central banks can use AI, and Machine Learning to verify the identity of someone and
make sure the money made is legimitate
- Systems, That are mandatory and implemented by the government for different
companies that require the standardization of systems that can allow people to report
suspected instances of money laundering
 - Training mandatory for the government staff and non-government staff that can teach
them the risks of money laundering and how to prevent it.
- The government will do this as it will benefit them because terrorsim with decrease, the
currency can become more stable making the government reap the harvest and making
more trust and improving the overall image of the country and government making them
more open to trade as they have abolished money laundering.

Resolution 2:
Money laundering is a major concern for governments and financial institutions around the
world. However, artificial intelligence (AI) and machine learning (ML) technologies are
increasingly being used to detect and prevent instances of money laundering. These AI and ML
supported anti-money laundering (AML) solutions can help companies in their fight against
financial crimes.

One way that AI and ML can help is by recognizing patterns of suspicious financial activity. By
analyzing large amounts of data, AI algorithms can identify patterns that indicate possible
instances of money laundering. For example, they can analyze transactions that are unusually
large, frequent, or that involve unusual parties. Once these patterns are recognized, companies
can investigate further and take action to prevent money laundering.

Additionally, AI can perform link analysis by identifying entities that are parties to suspect
transactions. This helps to identify networks of criminals who are involved in money laundering,
which can then be investigated by law enforcement agencies. Machine learning algorithms can
also learn from past instances of money laundering, and use this knowledge to improve their
ability to detect and prevent future instances.

To make the most of AI and ML supported AML solutions, it is important for governments to
mandate and implement standardization of systems that can allow people to report suspected
instances of money laundering. This can be achieved through mandatory training for government
and non-government staff to teach them the risks of money laundering and how to prevent it. By
doing so, companies and governments can work together to fight against financial crimes and
promote financial stability.

Made into Pointers:

● AI and machine learning technologies are being used for AML/CFT solutions
● AI algorithms can recognize patterns of suspicious financial activity
● Patterns include large or frequent transactions, and unusual parties involved
● Link analysis can identify networks of criminals involved in money laundering
● Machine learning algorithms can learn from past instances to improve detection and
prevention
● Standardization of reporting systems is important for effective use of AI and ML in
AML/CFT
● Mandatory training can teach government and non-government staff to prevent money
laundering
● AI and ML are seen as costly but effective tools for fighting money laundering.