Startup maps customers and suppliers, potentially identifies TBML networks

A New York City-based startup aims to launch an artificial intelligence (AI) based platform that could help detect trade-based money laundering (TBML).

The platform aims to bring transparency to the supply chain on a global scale by providing an international network view of companies and the relationships between them.

Global supply chain

Altana AI claims to provide a shared artificial intelligence model of the global supply chain – without the pooling of sensitive data – to help make commerce safe, legal, inclusive and resilient.

The startup says its goal is to de-risk global supply chains and help governments, enterprises, and financial institutions to gain visibility across borders, manage risk and improve global commerce.

TBML detection

According to Altana, it can see not only a customer but also where that customer’s customers are. It can also tell whether companies are dealing with potentially sanctioned goods such as defence equipment or using forced labour. The platform can also see a customer’s suppliers and their suppliers.

This could potentially reveal complex networks of companies that often disguise TBML and other trade-based financial crimes.

Categories: Trade Based Financial crimes News

Tags: , , ,

%d bloggers like this: