In today's world, where financial crimes evolve rapidly, organizations face the challenge of staying one step ahead. During the podcast “Technology as an AML Partner”, César Bula, director for Latin America at AML Analytics, shared his experience on how technological solutions are transforming the prevention of money laundering (AML) and financial crimes. This article summarizes the key points and provides guidance on how institutions can maximize the use of technology to mitigate risks and improve efficiency.

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Context: The Challenges of Preventing Financial Crime

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Money laundering and other financial crimes not only involve illegal actors, but also legal business structures that are often used to cover up illegal activities. In addition, these crimes have a global reach, connecting multiple countries and professional networks that take advantage of legal loopholes.

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César Bula highlighted that more than 80% of illegal structures use legal commercial companies for their operations. This underlines the importance of companies adopting effective technologies that allow them to monitor transactions and prevent being part of these criminal chains.

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The Role of Technology in Prevention

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Technology has become a fundamental pillar for facing the challenges of AML. Tools such as automated “screening”, continuous monitoring and AI-based detection systems allow organizations to:

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• Reduce human errors: Automated systems minimize the possibility of omissions and errors in the detection of suspicious activity.
• Increase speed: They allow large volumes of data to be processed in real time, which is essential for detecting patterns and making quick decisions.
• Optimize resources: The technology reduces operational burdens by eliminating manual and repetitive tasks.

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César stressed the need for effective controls to ensure that these tools work optimally. He mentioned the importance of “testing” and “maintaining” technological solutions to ensure their effectiveness.

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Technological Adoption: Challenges and Keys to Success

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The adoption of AML technologies faces several challenges, especially in traditional financial institutions that can show resistance to change. Among the highlights:

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1. Compatibility: It is crucial that technological tools are interoperable and integrate with existing systems.
2. Scalability: Solutions must adapt to the growth of the organization.
3. Training: Staff training is essential for them to understand and effectively use new tools.

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César also emphasized that there is no “universal solution”. Institutions should carefully evaluate their needs, the size of their organization and their risk matrix before choosing specific tools.

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Competitive Advantages of Technology in AML

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Not only does the efficient use of technology help to comply with regulations, it can also offer significant competitive advantages:

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• More agile processes: Fast customer onboarding and transaction approval in record time.
• Better customer experience: Less friction in processes strengthens user trust and loyalty.
• Increased compliance: Proactive detection of suspicious activity protects companies from fines and regulatory sanctions.

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Final Reflections

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As highlighted by César Bula, technology is an indispensable tool in the fight against financial crimes. However, its effective implementation requires a strategic approach that combines the specific needs of each organization with scalable and well-integrated solutions.

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The key to success is not only in acquiring the best technology, but also in ensuring that it is kept up to date, compatible and aligned with the regulatory and commercial objectives of the institution.