Over £2 trillion is laundered through the global financial system every year, fuelling everything from trafficking and terrorist activity to grand corruption and environmental crime. The scale of the challenge can seem insurmountable, but at Themis, we believe that the intelligent application of technology, particularly AI, may finally shift the balance. Not just by speeding up detection or easing compliance burdens, but by fundamentally changing how we fight financial crime.
It’s no surprise, then, that AI is a central topic of conversation across our business, from product to policy, from engineering to compliance; but AI isn’t just an exciting technology story - for CFOs, it’s a financial one. From cost control to capital allocation, AI is quickly becoming a key lever for value. And across both public and private sectors, the case for strategic investment is growing stronger by the day.
In the UK, the government has committed up to £2 billion by 2030 to support AI development, funding research, infrastructure, and oversight. Projects like the Isambard-AI supercomputer, set to become one of Europe’s most powerful, reflect a national effort to scale AI capacity responsibly and competitively. Globally, similar efforts are underway. The US, EU, China and Gulf economies are pouring billions into national strategies to build not only AI capability but the regulation, data infrastructure, and digital talent pipelines to support it.
Private capital is moving fast too. According to CB Insights, in 2023, global AI startups raised approximately $50 billion in venture funding, often at really strong multiples. But perhaps more telling is how AI is being applied within established businesses, especially those operating in complex, regulated environments. A recent study by Basware found that finance teams using AI are achieving average returns of £1.36 for every £1 invested. Deloitte reports that 93% of firms implementing AI-led automation have already realised measurable cost savings. Even in traditionally risk-averse sectors like banking, AI is being embedded into fraud detection, customer onboarding and risk scoring, with projected operational savings running into the hundreds of millions over the next five years.
At Themis, we’ve seen the same pattern across our client base. Many are using AI to reduce manual processing burdens, streamline reviews, and accelerate investigations, all without increasing headcount. This is the heart of what AI can offer financially: the ability to do more with less; and the gains aren’t just in cost-cutting.
Smart deployment of AI often creates revenue multipliers too. A recent McKinsey study estimated that generative AI could unlock between $200 billion and $340 billion in annual value for the financial services sector alone by improving decision-making, enhancing customer journeys, and accelerating turnaround times.
There are concrete examples of this happening now. Citi and Ant International recently piloted an AI-powered FX hedging tool that helped one major airline reduce hedging costs by 30%: an improvement that translated directly to the bottom line. Fidelity Investments has used AI in procurement to reduce contract processing times by 50% and cut spend by 20%, delivering meaningful cost efficiency in a legacy-heavy environment.
In anti-financial crime, the returns are just as tangible. According to vendors like Tookitaki, ThetaRay, and Hawk AI, some banks using AI-enhanced AML platforms have cut false positives by between 70% and 90%, while reducing compliance costs by up to 60%. These results vary by implementation, but the direction is clear: smarter, faster systems that reduce manual triage and improve investigative accuracy.
Of course, not all deployments succeed, and this is where discipline matters. Poorly scoped or overly generic tools can struggle to deliver value, especially if adopted without clear use cases. IBM research suggests that as many as 30% of enterprise AI pilots fail to scale, often due to integration or governance challenges. But when focused on high-cost, high-friction areas, such as document-heavy compliance processes or large-volume transaction monitoring, the upside is significant. AI can help teams move faster, reduce error, and cut through backlogs, all while enabling human specialists to focus on high-level decisions rather than data prep.
From a financial perspective, the real attraction of AI isn’t just optimisation—it’s resilience. Markets, regulations, and risk environments are changing at speed. Systems that learn, adapt, and scale in real time will be more cost-effective over the long term than static, manual, or fragmented setups. The return on investment isn’t only measured in headcount or speed, but in better controls, fewer failures, and stronger long-term positioning.
At Themis, we’ve seen growing interest from organisations looking to address precisely these issues, especially within their financial crime and compliance functions. Our own recent survey of industry leaders shows that while AI adoption is still uneven, the direction is clear: the next few years will see rapid acceleration in practical, risk-focused AI deployments. The challenge for leadership now is not whether to invest, but how to do so wisely.
For CFOs, this means applying the same standards we always have: evidence-based planning, measurable results, and strategic alignment. The difference is that AI now meets those standards more often than it used to and in more parts of the business. When the numbers add up, caution becomes inaction; and when the cost of standing still is rising, the prudent move is to act.
Artificial intelligence (AI) presents opportunities for transformational solutions to many of the world’s most pressing challenges. The threat of financial crime, which provides the lifeblood for the illicit economy in which organised crime, terror groups, and other serious criminal actors operate, is no exception. Download our insightful report today.
Stay on top of the ever-changing financial crime landscape by accessing the latest information on emerging criminal techniques and the risks associated with carrying out business with particular industries or in particular jurisdictions.
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We’ve handpicked a selection of standout books our team discovered over the summer—perfect picks to kick off the “back-to-school" season. These compelling reads offer deep insight into financial crimes, the systemic vulnerabilities they exploit, and their far-reaching consequences.
AI is fast becoming a high-ROI tool in financial crime and compliance. From cutting costs and boosting efficiency to enhancing resilience, strategic AI investments are helping CFOs do more with less - transforming risk management and unlocking new value across the financial sector.
The UK’s latest National Risk Assessment (NRA) reveals how money laundering and terrorist financing are evolving—and how the UK is fighting back. A vital guide for AML policy, it arms businesses with intelligence to spot risks and stay protected.
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Many clients have heard of the OFAC 50 Percent Rule but aren’t sure how it affects them. It’s far-reaching, with hidden sanctions risks. This post explains the rule, why it demands deeper due diligence, and steps to identify and mitigate those risks.
In June, the EU removed the UAE from its list of high-risk jurisdictions from an AML perspective, signaling growing international confidence in the country’s financial crime oversight.
New updates to the Land Conversion and Financial Crime Risk Assessment link environmental harm to financial crime. Cattle rustling in Nigeria and Cameroon is now red-rated, with added risks on carbon credit fraud, child labour, mining corruption, and gold smuggling.
An overview of modern slavery, distinguishing between human trafficking, smuggling, and forced labor. It highlights the global prevalence of exploitation and the importance of understanding these definitions to combat such crimes.
Dubai’s $160B foreign-owned real estate market faces money laundering risks. The UAE now requires reporting of property deals over AED 55K via REAR. Criminals like Daniel Kinahan have exploited property to hide illicit funds, underscoring the need for strict compliance.
Examines how digital platforms and cryptocurrencies facilitate human trafficking, allowing traffickers to operate anonymously and at scale, posing challenges for law enforcement.
Investigates how sanctions intersect with trade-based financial crimes in Hong Kong, highlighting the complexities businesses face in navigating regulatory compliance.
Financial crimes cause more than economic harm—they hit mental health too. UK data shows 60% of fraud victims face distress; Ghana research links corruption to anxiety and depression. This blog calls for tackling both psychological and financial impacts.
Environmental crime worsens gender inequality, driving violence, trafficking, and hardship for women—especially in regions like the DRC and Peru. Women defenders face abuse, and climate change deepens risks like water scarcity, child marriage, and health threats. Tackling these crimes is key to protecting women’s rights and safety.
AI is transforming financial crime prevention—improving detection, reducing costs, and streamlining compliance. Generative AI and graph networks boost due diligence, while ethical, human-guided use counters criminal misuse. Themis champions tech-human collaboration.
Explores the application of fuzzy logic in Anti-Money Laundering (AML) systems, emphasising its role in improving name-matching accuracy and reducing false positives, thereby enhancing compliance efficiency.
This book focusses on the challenges faced by law enforcement in North West USA and in British Columbia to combat illegal logging, as well as those of the timber-industry communities established since the late 19th century to maintain meaningful and financially viable lives.
The FATF has highlighted the UAE’s progress in fighting financial crime. Its third enhanced follow-up report upgraded three recommendation ratings for the country, marking a step forward in meeting international standards.
Lebanon’s economic collapse, fuelled by debt, corruption, and instability, has led to hyperinflation and greater financial crime risk. In Oct 2024, the FATF grey-listed Lebanon. The country pledges a two-year reform plan to boost transparency and restore investor confidence.
The UK treats profits from legal overseas cannabis businesses as criminal property under the Proceeds of Crime Act. Few cases qualify for exceptions, creating a legal grey area—so anyone handling such funds should proceed cautiously and seek legal advice.
The UK’s 2023–2026 Economic Crime Plan commits £400M to tackle money laundering, kleptocracy, and fraud, with reforms to Companies House, crypto, and sanctions. Progress is clear, but critics urge more urgency and funding. Success depends on public-private collaboration.
Suspicious Activity Reports (SARs) are key to fighting financial crime, with 42% of fraud found via tip-offs. Rising UK SARs and account freezes show their impact. Themis urges strong reporting systems and whistleblower protections to foster transparency.
Corrupt elites still exploit the UK property market via offshore structures and relatives to hide assets. Over 18,000 firms remain non-compliant. With cases of children holding luxury homes, Themis calls for tougher enforcement as new UK and FATF guidance target transparency gaps.
Corruption undermines sustainable development, financial integrity, and DEI. A Themis–Denominator study links lower corruption to higher DEI scores. Marginalised groups, especially women, suffer most. Promoting diversity and transparency is key to fairer societies.
Hindenburg Research accuses India’s Adani Group of fraud, alleging stock manipulation, shell firms, and nepotism—halving Gautam Adani’s net worth and shaking investor confidence. The case highlights how financial crime can roil markets and the need for strong due diligence.
Supply chain failures have linked firms like Inditex and Skechers to forced labour and reputational risk. The EU’s CSDDD will require large companies to address human rights and environmental harms. Themis offers tools to assess suppliers and fight modern slavery.
On World Wildlife Day and CITES’ 50th year, Themis reflects on tackling illegal wildlife trade—the 4th largest financial crime. Laws, AI, forensics, and global cooperation drive change, but shifting demand, like ivory to hippo teeth, shows challenges remain.
Puppy smuggling in the UK has surged post-pandemic, with organised crime exploiting demand and loopholes to import sick or underage dogs. Despite new laws, enforcement gaps remain. Themis urges buyer vigilance—tools like Themis Search can help spot breeder risks
Romance scams rose 30% in 2022, with victims losing £8,234 on average—especially men and those aged 65–74. Scammers use fake profiles and emotional manipulation. Themis urges due diligence in dating; tools like Themis Search can flag risks and help platforms protect users.
Crypto plays roles in both social good and crime—over $50M has aided Ukraine, but bad actors use it to evade sanctions and launder funds, notably via the UAE and Central African Republic. Themis calls for stronger due diligence and compliance to curb misuse.
The Russian invasion of Ukraine has heightened trafficking risks for women and children. Over 2.5M flee, with traffickers exploiting chaos, especially in Moldova, Poland, and Italy. The OSCE urges swift action to warn refugees of false offers and protect them.
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