Mopso and the Luxembourg Institute of Science and Technology (LIST) have secured funding from Luxembourg’s Ministry of the Economy and National Research Fund (FNR) to develop an advanced anti-money laundering (AML) project called PAMLA (Performant Anti Money Laundering Analytics).
This high-performance computing (HPC) initiative aims to improve AML efficiency by processing vast data sets to identify suspicious transactions and high-risk customers.
“PAMLA will enable new techniques to quantify AML risk, which would otherwise be infeasible due to the lack of processing power,” said Fintan McGee, lead scientist at LIST. CEO Andrea Danielli added, “Our solution will reduce the time needed in transaction monitoring analysis, creating less false positives.”
Expected to yield commercially viable products by 2027, PAMLA will position Mopso to expand its reach across Europe, with plans for France, Belgium, the Netherlands, and Germany.
