E88: Can synthetic data shake up financial crime and compliance?

Synthetic data comes with all sorts of hype: the next great accelerator to combat financial crime, the silver bullet of compliance – even an emerging hero!But while this use of AI is promising, there is still plenty to be worked out and you better believe that the bad guys are utilising it too!Our expert host, Fredrik Riiser, is joined by Dr. Janet Bastiman, Chief Data Scientist at Napier AI, to strip through the hype and look at what synthetic data can really do for compliance professionals.The pair discuss: the capabilities of synthetic data today, the biggest challenges in its way, and what the future of fighting financial crime could be if we get this right.Producer: Matthew Dunne-MilesEngineers: Dominic Delargy, Nicholas Thon____________________________________The Laundry podcast: Dive deep into the intricacies of financial crime, AML (anti-money laundering), compliance, sanctions, and the ever-evolving landscape of financial regulation.Hosted by Marit Rødevand and Fredrik Riiser – this podcast features renowned experts from banking, fintech, compliance, and investigative journalism.Together, they shed light on the industry's trending topics, analyse mainstream news through a compliance-focused lens, and connect the fight against financial crime to its real-world consequences and ramifications.The Laundry is proudly produced by Strise, the AML Automation Cloud.Get in touch at: [email protected] to our newsletter, Fresh Laundry, here. The views, opinions, and statements expressed by guests of this podcast are solely their own and do not necessarily reflect the views, opinions, or positions of the podcast hosts, The Laundry team, or Strise. Hosted on Acast. See acast.com/privacy for more information.