Many banks, including JPMorgan Chase and Ally Bank, are experimenting with AI in this way to protect user data and money, and, for money laundering in particular, AI can flag fraudulent transactions with criteria that humans cannot see.
General purpose central bank digital currencies could revolutionise the way money is provided and the role of central banks in the financial system, but these are uncharted waters, with potential risks.
Government officials are permitted to seize computers, search networks, and access and copy any data they require.
Steve Charlton, Managing Director of Defined Contribution, EMEA and Asia for SEI’s UK Institutional Group, says: “The defined contribution landscape and pensions saving environment have changed significantly in recent years."
With this in mind, individuals who hold cryptoassets should consider closely the Guidance on the self-assessment return which they are due to file, despite the late arrival of the Guidance.