INTESA SANPAOLO: ARTIFICIAL INTELLIGENCE
TO FIGHT FINANCIAL CRIME

• In Turin, national authorities and international experts met at the first ever event organised by the AFC Digital Hub, the consortium for the fight against financial crime using new technology and artificial intelligence, created by the Bank with the Intesa Sanpaolo Innovation Center, the University of Turin, the Polytechnic University of Turin and CentAI, the new AI research centre.
  
• Artificial intelligence allows for the development of innovative solutions and models by which to identify suspicious phenomena that may suggest numerous illegal activities, from money laundering to terrorism, market abuse and fraud.
• AFC Digital Hub launches a route that will lead to the close, synergic collaboration of some of Italy’s true scientific, technological and academic excellences and close dialogue with Italian and European authorities in the fight against digital financial crime.

Turin, 13 July 2022 – Italian and European authorities and international experts today met at the Intesa Sanpaolo skyscraper of Turin for the first ever event organised by the AFC Digital Hub (Anti Financial Crime Digital Hub), the consortium for the fight against financial crime using new technology and artificial intelligence, created by the Bank with the Intesa Sanpaolo Innovation Center, the University of Turin, the Polytechnic University of Turin and CentAI (Center for Artificial Intelligence, the new research institute dedicated to artificial intelligence and investee of Intesa Sanpaolo).

AFC Digital Hub intends to become a point of reference in the fight against financial crime and to do so, the shareholders intend to organise regular opportunities to meet and discuss the issues, fostering the opening up of the consortium to other banks and intermediaries in the system.

Artificial intelligence allows for the development of innovative solutions and models by which to identify suspicious phenomena that may suggest numerous illegal activities, from money laundering to terrorism, market abuse and fraud. Some tools are already available whilst others soon will be thanks to continuous technological development, however few individual subjects are simply unable to make full use of these opportunities.

With today’s Turin event, the AFC Digital Hub launches a route that will lead to the close, synergic collaboration of some of Italy’s true scientific, technological and academic excellences and close dialogue with Italian and European authorities in the fight against digital financial crime.

The institutional addresses given by the Chairman of Intesa Sanpaolo, Gian Maria Gros-Pietro, the President of the Region of Piedmont, Alberto Cirio, the Mayor of Turin, Stefano Lo Russo, the Rector of the University of Turin, Stefano Geuna and the Rector of the Polytechnic University of Turin, Guido Saracco, stressed the importance of working as a “system” to obtain important, long-range results for Italy.

Elizabeth McCaul, Supervisory Board Member of the European Central Bank, focussed on the fight against financial crime in Europe, on the opportunities deriving from the use of artificial intelligence and future projects within the European Union.

Claudio Clemente, Manager of the Bank of Italy Financial Information Unit, presented the work carried out to fight money laundering and terrorism and how to handle the freezing of assets.

Alessandra Perrazzelli, Deputy General Manager of the Bank of Italy, described the experience of the Fintech Hub, the digital change accelerator of the Milan Hub of the Bank of Italy dedicated to enterprises offering digital solutions to innovate financial, banking and insurance services, leveraging new technologies and new approaches.

Francesco Greco, Chief of Staff of the Guardia di Finanza (financial police force), pointed out the work carried out by the Financial Crimes Corps in the fight, through the use of IT and digital technology.

The closing round table, which was moderated by journalist Maria Latella, took an in-depth look at the numerous areas in which artificial intelligence can be used as a tool to fight financial crime, thanks to the interventions by: Paolo Benanti, Professor of the Pontificial Gregorian University; Piero Boccassino, Chief Compliance Officer of Intesa Sanpaolo and Chairman of the AFC Digital Hub; Oreste Pollicino, Professor of Constitutional Law at Bocconi University and co-founder of DML (Digital Media Laws); Mario Rasetti, Chairman of the Scientific Committee of CentAI; Luciano Violante, Chairman of the Leonardo Foundation.

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