Groundbreaking AI Tool released to support Jersey's Anti-Money-Laundering Regime

Posted: 07/02/2024

Introducing – A free ChatGPT-style AI Assistant helping local businesses navigate the Money Laundering (AML) Regime.

Local digital agency Blue Llama have teamed up with leading regulatory, compliance and fiduciary investment consultancy Cyan Regulatory to develop a groundbreaking digital tool to help Jersey businesses navigate the intricacies of the Anti-Money Laundering (AML) Regime.

The new chatbot, ‘MaxAMLian’ or ‘Max’, is an artificial intelligence (AI) powered assistant designed to assist financial services businesses and other professional firms with navigating the AML/CTF/CPF Regime in Jersey; whether they are a trust company, estate agent, fund administrator or any other business dealing with large sums of money and assets.

Max has been trained on relevant legislation, regulation and guidance issued by the Jersey Financial Services Commission and is able to provide a summary of the requirements and provide links to the relevant documents.

Anyone can visit the website, and use a simple chat interface to type their questions to Max. They’ll get a response in real-time, eliminating the need to trawl through multiple regulatory documents. It’s hoped that Max will make getting AML help easy and reduce the demands on businesses’ compliance teams, and what’s best – for the time being it’s free and anonymous, too!

How does it work?
Max harnesses the power of ChatGPT and has been trained on over 250,000 words from the JFSC’s Handbook, relevant legislation and guidance. Whilst the chatbot has been tested by regulatory experts and its answers improved by uploading additional information, the technology remains experimental, but it is hoped that this innovative tool will be welcomed by professionals across Jersey.

Key features of the Max chatbot include:

  • Instant guidance: Users can easily converse and receive immediate responses, including the ability to check back to the original documents.
  • User-friendly: The chatbot is easy and intuitive to use, with users able to ask follow-up questions and provide feedback on the answers received.
  • 24/7 availability: The chatbot is available around the clock, providing on-demand support to users whenever they need assistance.
  • FREE: Ask MaxAMLian is being offered at no charge during the initial trial period. You don’t even need to provide an email address.

Visit now and start asking some questions.

Share this