Examine critically how India’s increased financial sector expansion and economic liberalization have affected the nation’s susceptibility to money laundering, as well as the steps implemented to bolster regulatory control.
Artificial Intelligence (AI) and Machine Learning (ML) are like super-smart helpers that boost cybersecurity defenses. Here’s how they work: Threat Detection: AI and ML can spot unusual activities that might signal a cyberattack. For example, if a computer suddenly starts sending out a lot of data,Read more
Artificial Intelligence (AI) and Machine Learning (ML) are like super-smart helpers that boost cybersecurity defenses. Here’s how they work:
- Threat Detection: AI and ML can spot unusual activities that might signal a cyberattack. For example, if a computer suddenly starts sending out a lot of data, AI can notice this and raise an alert.
- Automated Responses: They can automatically respond to threats faster than humans. If an AI system detects malware, it can immediately block it and prevent damage without waiting for someone to notice.
- Predictive Analysis: AI uses past data to predict future threats. For instance, it can analyze patterns from previous attacks to forecast and defend against similar ones in the future.
- Phishing Detection: AI can identify phishing emails that try to trick you into giving up personal information. It can flag these emails so you don’t accidentally click on harmful links.
- Behavior Analysis: ML learns what normal behavior looks like for users and systems. If something behaves differently, like a user logging in from a new location, it can trigger a security check.
By using AI and ML, cybersecurity can become more proactive and efficient, catching threats before they cause harm and keeping systems safer.
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The liberalization of the Indian economy and the growth of the financial sector have had a significant impact on the country's vulnerability to money laundering. While the economic reforms have brought about substantial benefits, they have also created new avenues for illicit financial flows and monRead more
The liberalization of the Indian economy and the growth of the financial sector have had a significant impact on the country’s vulnerability to money laundering. While the economic reforms have brought about substantial benefits, they have also created new avenues for illicit financial flows and money laundering activities. Here’s a critical examination of the issue and the measures taken to strengthen the regulatory oversight:
Impact of Economic Liberalization on Money Laundering Vulnerability:
Measures Taken to Strengthen Regulatory Oversight:
While the measures taken by the government and regulators have strengthened the AML framework, the evolving nature of money laundering techniques and the complexity of the financial sector pose ongoing challenges. Continuous refinement of the regulatory oversight, capacity building, and international cooperation are necessary to mitigate the risks posed by money laundering in the liberalized Indian economy.
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