CHINESE POLICE AI ALGORITHM TRACKS BITCOIN MONEY LAUNDERING WITH 90% ACCURACY

Researchers from China’s national police academy have developed an AI framework that can detect illicit cryptocurrency transactions with nearly 90 per cent overall accuracy, according to a recent study. Cryptocurrency transactions are growing rapidly, but their pseudonymous and cross-border nature can provide channels for money laundering and other illegal activities.

News - South China Morning Post reports that researchers from China’s national police academy have developed an AI framework that can detect illicit cryptocurrency transactions with nearly 90 per cent overall accuracy, according to a recent study.

The report adds: Cryptocurrency transactions are growing rapidly, but their pseudonymous and cross-border nature can provide channels for money laundering and other illegal activities.

In an article published in the peer-reviewed Chinese publication Journal of Intelligence, corresponding author Dr Sun Jingchao...

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