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Alan Turing Institute and Accenture team up to tackle fraud and money laundering

The Alan Turing Institute is joining forces with professional services giant Accenture to combat fraud and money laundering.

Turing’s researchers will harness techniques in the fields of AI, network science and machine learning to develop new approaches to help Accenture detect fraud.

It’s hoped the project will establish theoretical advances that can also pave the way for developments in intrusion detection for cyber security and detecting faults in safety monitoring.

Alan Wilson, CEO of the Alan Turing Institute, said the financial services sector has significant potential for innovation in data science and AI: “We look forward to working together to turn our research into real-world impact.”

Ray Eitel-Porter, managing director, Accenture Analytics added that AI and analytics could solve major problems in the business world: “A lot of fraudsters operate undetected in global networks, but we’re working together to better uncover this collusion and stop fraud before it happens.”

The alliance forms the first in a series of projects at the Turing to build AI and data science tools to tackle major issues facing industry and society.