UK Regulators Create Realistic Money Laundering Scenarios Using Synthetic Data

Firms will be able to demonstrate new technologies to combat money laundering using the dataset. The synthetic dataset includes synthetic money to replicate realistic money laundering scenarios. The project aims to help regulators and financial institutions test and improve anti-money laundering strategies. The dataset will be made available through the FCA's Digital Sandbox as part of the Synthetic Data AML Solution Sprint. The UK Financial Conduct Authority (FCA) and the Alan Turing Institute developed a synthetic dataset using real UK retail banking data. Applications for the Data Sprint close on 26 April.