Watched by the One Hundred Eyes of Argus

A key component of Sustainable Development Goal 16 (SDG16) is the promotion of the rule of law, including the fight against money laundering and the financing of terrorism (AML/CFT). Artificial Intelligence (AI) can contribute to the reduction of illicit financial flows, the recovery of stolen assets and the fight against organized crime (Targets 16.4 & 16.5). AI is no longer an optional “good-to-have” tool, but an indispensable addition to the AML arsenal, in light of the sophisticated technology used by money launderers. Nevertheless, a prerequisite for deploying AI in the global fight against money laundering is the development of an appropriate framework of rules, safeguards, guidance and red flags, in order to stay a step ahead of the criminal masterminds and cunning money launderers and to prevent the AI&s;s failure, similar to the defeat of the primordial many-eyed giant Argus in Greek Mythology.