Mumbai, March 26 -- Reserve Bank Governor Sanjay Malhotra on Wednesday said that considering the evolving landscape of money laundering, regulators will need to continuously augment artificial intelligence (AI) and Machine Learning (ML) risk assessment framework to make appropriate system enhancements. Addressing the Financial Action Task Force (FATF) Private Sector Collaborative Forum 2025 event here, the RBI Governor pointed out that technology has enabled greater ease of doing business, but at the same time, it has also facilitated and fostered new and very sophisticated means of money laundering and illicit financing.

This makes it imperative to refine and improve risk assessment models. He also urged the central banks to understand...