Chinese police AI algorithm tracks bitcoin money laundering with 90% accuracy

AI Summary

Chinese police researchers have developed an AI algorithm capable of tracking bitcoin money laundering with nearly 90% accuracy. This AI framework aims to detect illicit cryptocurrency transactions and curb illegal financial activities involving cross-border pseudonymous channels.

Researchers from China’s national police academy have developed an AI framework that can detect illicit cryptocurrency transactions with nearly 90 per cent overall accuracy, according to a recent study. Cryptocurrency transactions are growing rapidly, but their pseudonymous and cross-border nature can provide channels for money laundering and other illegal activities. In an article published in the peer-reviewed Chinese publication Journal of Intelligence, corresponding author Dr Sun Jingchao...