BIS To Use AI To Monitor Global Bank Transactions For "Money Laundering"

By Tyler Durden

While the IMF is currently gearing up to introduce its new global CBDC system called the UMU (also known as the Unicoin), The Bank for International Settlements has been busy with multiple projects designed to centralize all international banks and central banks into a single umbrella network that allows for quick cross-border transactions using digital currencies. In other words, a cashless society.

One such concept, called Project Icebreaker, dealt specifically with creating a SWIFT-like bottleneck system which would allow global banks to regulate and eventually homogenize all currencies into a single one-world exchange model that would give them the power to cut out any nation or company that does not meet their ideological approval.

The latest idea from the BIS is Project Aurora, which may be even more disturbing than Icebreaker in its implications. Aurora is designed to use “machine learning” (AI) as a tool to monitor vast flows of financial transactions from all over the world in order to identify specifically flagged patterns. The BIS says that this is meant to discover criminal money-laundering structures protected by “money mules.” However, in order for the AI to sift through global transactions in real time, corporate banks and governments would have to create extensive streamlined access to accounts then open the doors wide for the AI to operate with impunity.

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Some banks are already implementing their own private AI monitoring systems to catch unusual account activities, but Aurora would require international access on a scale that would be incredible as well as horrifying.

Much like the drug war was used as a rationale in the US and Europe to give governments unfettered access to citizen finances — a power which has since been abused in a number of ways (in some cases accounts can be seized on the mere suspicion of a crime, rather than conviction) — Aurora relies on the bogeyman of money laundering to give governments and global banks vast surveillance powers. The project’s focus on AI is presented as if this will protect individual privacy, but all AI programs serve their makers. Whoever controls the AI also controls who the AI targets.

The idea of a worldwide AI integrated bank monitoring system in the hands of the BIS or other globalist institutions is immensely dangerous. One could even imagine a future in which personal accounts are frozen regularly for any number of infractions, from financial to political.

Source: ZeroHedge

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