Cornelia Stengel is an expert for financial market and data protection law. She supports banks and insurance companies in connection with digitisation, FinTech, Blockchain/Distributed Ledger Technology and data policy. She combines her practical experience with scientific research and has also published on CBDC. As an expert, she supports the Federal Administration in connection with the DLT bill and is elected permanent guest of the Bankers Association's Commission for Digitisation.

Kellerhals Carrard is one of the leading Swiss commercial law firms with an international network and strong local roots.

AI-supported transaction monitoring

Every bank in Switzerland must operate an IT-based transaction monitoring system that enables it to identify conspicuous transactions. This is the only way that the due diligence obligations under money laundering law in connection with transactions with increased risks, such as clarification or reporting obligations, can be fulfilled at all. Based on a sound risk analysis, transaction monitoring systems must be tailored to the specific business model and customer structure of the bank in question and vary accordingly from bank to bank. In order to reduce the manual effort involved in transaction monitoring and to focus the resources of compliance staff as far as possible on relevant problem cases, banks are examining the use of systems based on so-called "artificial intelligence" (AI applications).