Video

Gen AI and the future of financial crime prevention

06.25.2025 | Elizabeth Callan

Discover how generative AI will be key to the future of financial crime prevention and the importance of responsible and explainable AI 

Speaking at World Salon x Columbia University’s Global Dialogue talk – “What LLMs really mean for the future of finance” – Elizabeth Callan, Sanctions Compliance & Risk Management SME at SymphonyAI financial services, shares expert insights on how financial institutions can adopt large language models (LLMs) and AI technologies responsibly while strengthening (and not compromising) compliance.  

The discussion outlines a roadmap for program-level governance, regulatory alignment, and the strategic role vendors play in sustaining trust and defensibility. Tailored to risk and compliance leaders, Elizabeth unpacks best practices for AI governance and real-world regulatory engagement strategies. 

Read more about GenAI and the future of FinCrime. 

 

Topics covered 

Governance frameworks for AI 

  • Establishment of AI risk committees to oversee development and deployment 
  • Clear delineation of roles and responsibilities to support regulatory clarity 
  • Written policies and procedures ensuring transparency and readiness 

Model governance and compliance readiness 

  • Model retraining protocols, incident response, and explainability as documentation essentials 
  • Critical compliance pillars include data integrity, lineage, bias testing, and tracking 
  • Transparent processes designed to withstand scrutiny from regulators and auditors 

Strategic vendor partnerships 

  • Importance of selecting vendors committed to responsible AI and regulatory collaboration 
  • Vendor support in stakeholder communication, issue resolution, and long-term lifecycle alignment 
  • Engaging vendors as partners in demonstrating defensibility and driving organizational transformation 

Regulator engagement best practices 

  • Need for early and continuous dialogue with regulators for alignment and mutual understanding 
  • Transparent explanation of the benefits of AI, use cases, and risk controls 
  • Potential for proactive institutions to shape smart, innovation-friendly regulation 

“If you can’t explain it to a regulator, you probably shouldn’t be using it.” – Elizabeth Callan, Sanctions Compliance & Risk Management SME, SymphonyAI financial services 

 

Related resources 

  • SymphonyAI: Advanced AI-powered compliance platform for financial crime prevention   
  • AI checklist: 40 questions to ask potential vendors to see if they are the right fit for your organization 
  • Responsible AI: Insights into responsible AI principles and their vital role in building customer trust.  

Want to find out more? Download our guide to generative AI copilots in financial services

about the author
photo

Elizabeth Callan

AML | FinCrime | Sanctions Compliance & Risk Management SME

Elizabeth has spent more than 20 years tackling money laundering (ML) and financial crime. At SymphonyAI she drives the strategy and innovation that delivers transformational compliance solutions. Prior to SymphonyAI she worked within the U.S. intelligence and law enforcement communities. As a Senior Intelligence Analyst with the U.S. Department of the Treasury, she drove U.S. policy and enforcement actions and supported U.S. officials and policymakers, including at OFAC and FinCEN, on ML threats and sanctions initiatives. She also served as Treasury’s first Intelligence Liaison and Senior Advisor to DEA’s Special Operations Division, spearheading large-scale ML investigations and intelligence collection initiatives, training law enforcement agents and analysts, and promoting collaboration between Treasury and U.S. and foreign law enforcement. In the private sector, Elizabeth also worked within financial institutions and consulting managing investigations teams, developing risk management strategies for complex products and services, and designing institutional AML programs and controls. Elizabeth also teaches AML and sanctions courses at the university level.

Learn more about the Author

Latest Insights

 
07.16.2025 Video

Regulation meets AI: How financial regulators are approaching AI adoption

Financial Services Square Icon Svg
 
07.15.2025 Video

Understanding agentic AI for financial crime prevention

Financial Services Square Icon Svg
 
07.11.2025 Blog

Beyond compliance: South African banks pioneer financial crime prevention

Financial Services Square Icon Svg