Doha: Participants at a private sector forum held alongside the UN conference on anti-corruption in Doha have warned that financial crime is becoming more complex and harder to detect, calling for greater use of artificial intelligence and advanced data analytics. The forum is part of the 11th Conference of the States Parties (CoSP11) to the UN Convention against Corruption, which is taking place in the Qatari capital from December 15 to 19.
According to Qatar News Agency, Alexandra Bobylkova from the UN Office on Drugs and Crime's Global Programme against Money Laundering stated that traditional detection and early-warning systems were no longer sufficient in the face of rapidly evolving financial crimes. She emphasized the need for financial institutions, companies, and financial intelligence units to adopt advanced data analysis, artificial intelligence, and machine learning to detect and prevent illicit financial flows and to build sustainable anti-corruption systems.
Bobylkova highlighted that AI can analyze vast amounts of data, create dynamic risk indicators, and identify unusual patterns, enabling authorities to detect suspicious activities linked to money laundering, corruption, and terrorist financing more proactively and efficiently. However, she also acknowledged challenges, including data preparation and protection, accurate interpretation of AI model results, and the risk of bias in intelligent systems. She warned of the potential misuse of AI by criminals, stressing the need for practical solutions to counter these threats.
Meanwhile, Ian McDougall of the LexisNexis Rule of Law Foundation and professor at the University of Madrid, discussed the private sector's role in using technology to strengthen the rule of law. He emphasized that discussions on artificial intelligence should be grounded in fundamental principles and recognized the limitations of technology despite its rapid advances. He described the current situation as a "technological arms race" between law enforcement authorities and criminal networks.
McDougall pointed out that AI could be one of the most positive developments of recent decades if used responsibly to support the rule of law. He explained that new technologies have transformed the ability to detect patterns within vast datasets, enabling financial institutions and regulatory bodies to identify suspicious transactions with greater speed and accuracy. However, he warned that the same technologies are also being exploited to develop increasingly sophisticated methods of financial evasion.
The forum also highlighted South Africa's experience in using AI to combat illicit financial flows, as described by Andy Mothibi, head of South Africa's Special Investigating Unit. Mothibi noted that AI has become central to South Africa's strategy, which relies on close cooperation between government agencies. He explained that AI-based technologies have been widely deployed by the South African Revenue Service to track income and model financial trends predictively, allowing for real-time detection of suspicious transactions.
Mothibi concluded that the integration of artificial intelligence and strong institutional cooperation has significantly enhanced South Africa's ability to detect illicit financial flows, accelerate investigations, and recover stolen assets.