The Federal Revenue Service in Brazil has developed an in-house tool that uses artificial intelligence (AI) to detect money laundering and tax evasion transactions involving cryptocurrency. The tool has already identified over $180 million involved in illicit cryptocurrency usage. It uses AI algorithms and complex network analysis to analyze tax data and improve the detection of illegal transactions. It has successfully identified cases involving shell companies and tax evasion, as well as cases of money laundering involving drugs and arms. Other government institutions in Brazil, such as the Central Bank, are also exploring the use of AI in their operations.



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