Chinese police AI algorithm tracks bitcoin money laundering with 90% accuracy
Researchers from China’s national police academy have developed an AI framework that can detect illicit cryptocurrency transactions with nearly 90 per cent overall accuracy, according to a recent study. Cryptocurrency transactions are growing rapidly, but their pseudonymous and cross-border nature can provide channels for money laundering and other illegal activities. In an article published in…
China's national police academy researchers have created an AI framework capable of detecting illicit cryptocurrency transactions with near 90 percent accuracy, according to a recent study. With the rise of cryptocurrency, its anonymity and international reach have made it a potential tool for money laundering, and regulatory authorities are seeking innovative ways to combat such illicit activities.
The study, published in the Chinese Journal of Intelligence, provides a solution that is both precise and adaptable, offering a promising technological approach for regulatory bodies to tackle financial crimes related to cryptocurrencies.
Written by urgent.news from Reuters Business via SCMP's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
