Use machine learning to protect payment systems – research
Tool could also be used to warn of money laundering and bank runs, researchers say
Machine learning (ML) technology could be used to monitor and protect high-value payment systems, research published by the Bank of Canada finds.
The working paper, written by Ajit Desai, Anneke Kosse and Jacob Sharples, says this is particularly important, given the growing risk from cyber attacks. The researchers say the gargantuan nature of modern payment systems prompts the possibility that ML-based safety nets may be needed.
“Given the substantial volume of payments settled each day and the
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