Financial Monitoring Service develops internal AI system for confidential data, official says

An internal artificial intelligence system has been created at the Financial Monitoring Service (FMS) to handle confidential information, Fuad Aliyev, Director of the Department for Cooperation and Analysis of Beneficial Owners at the FMS, stated at the conference titled "Digital Finance Ecosystem: A New Stage in Governance" in Baku, Report informs.

According to him, the system verifies information from various sources, detects errors, and alerts experts to discrepancies. Since the processed data is secret and confidential in nature, a local system is utilized rather than external AI solutions.

The system is trained on an existing database, samples, typologies, and international experience. It analyzes information on suspicious transactions, assesses risks across various parameters, generates visual profiles, and assists experts in determining risk levels. In cases of high risk, the system recommends conducting an additional check.

Fuad Aliyev emphasized that artificial intelligence performs an auxiliary function, while final decisions are made by humans. Following the conclusion of investigations, experts provide feedback to the system, allowing it to improve based on new results.