ThetaRay, a global leader in cognitive artificial intelligence for financial crime compliance, has reached a major milestone with an independent validation of its AML (anti-money laundering) and OFAC (sanctions screening) modules. The validation, conducted by Kaufman Rossin, underscores ThetaRay’s commitment to meeting the highest regulatory standards in AI-driven compliance solutions. Expected to be finalized by August 2025, the study confirms that ThetaRay’s models align with regulators’ growing expectations for transparency, governance, and robustness in AI-based systems.
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This announcement comes during Money20/20 USA, one of the most prominent events shaping the future of finance and compliance technology. It marks a timely achievement as global regulators tighten oversight on AI models used in financial services. In the United States, FinCEN’s modernization of the Bank Secrecy Act has placed a strong emphasis on risk-based compliance programs and stricter model management. Similarly, the European Union’s new Artificial Intelligence Act introduces stringent rules for high-risk AI applications, demanding greater transparency, human oversight, and lifecycle accountability.
Against this evolving backdrop, ThetaRay’s independent validation represents a significant step forward for the industry. It reassures banks and fintechs that the AI systems they rely on for transaction monitoring, sanctions screening, and Know Your Customer (KYC) processes meet the latest regulatory standards. This validation not only builds confidence among regulators and auditors but also accelerates the adoption of AI-driven compliance tools by simplifying approval processes for financial institutions.
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“Responsible AI deployment means proving that our systems, in addition to being innovative, are also independently validated and trustworthy,” said Jeff Otten, ThetaRay’s Chief Financial Officer. “This type of assurance is what regulators demand, what auditors expect, and what customers deserve.”
Jason Chorlins, Head of Financial Services at Kaufman Rossin, added, “Our review confirmed that ThetaRay’s AML and OFAC modules meet rigorous requirements for accuracy, transparency, and governance. This validation is increasingly vital as regulators call for responsible AI use and stronger oversight measures to combat financial crime.”
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Looking ahead, ThetaRay plans to expand its validation efforts to additional modules, continually refresh validation cycles, and adapt assurance frameworks to meet new international standards. By doing so, the company reinforces its mission to build AI systems that are not only cutting-edge but also compliant, transparent, and ready for the future of financial regulation.
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