IN COMPLIANCE, USE AI-DRIVEN AND VETTED PLATFORMS DESIGNED FOR AML/CFT, NOT CHAT RESOURCES, AND STILL CONFIRM YOUR RESULTS IRRESPECTIVE OF YOUR CHOICE

The nightmare* experienced by the lawyer who employed Chat GPT to find relevant legal authorities, and then, without checking, filed bogus, non-existent cases in US District Court, should concern compliance officers engaged in enhanced due diligence. Ladies and gentlemen, do NOT blindly use some sort of chat program to find information, lest you  locate and then use information that is not only ficticious, but which will cause you to make a decision on client onboarding or transaction monitoring that is dead wrong, with a high risk of a bad outcome.

Use only a research platform that was actually created for  AML/CFT purposes, which will assure you that it has been extensively bench tested, using real-life problems. No generic chat programs, please, lest you fall into a legal hole that you cannot climb out of.

Next, it must be provided by a well-known company with a track record in the field. Do not take some experimental AI program sent to you by a friend you met at a conference, and who has touted its effectiveness, and use it to find data on an EDD target. Only accept systems offered by reputable vendors that you know from others who use their products , or from appearances and demonstrations that you have seen at conferences, to have useful software being employed by other compliant officers.                            (e.g. SymphonyAI Sensa-NetReveal).

Remember that someone may have already used a generic chat program to create what appear to be authentic newspaper or magazine article that are simply a product of a query, and neither real nor accurate. You must, in an EDD query, through any commercial-off-the-shelf platform, verify your results in the present AI-driven world, lest you use your AML program and find something that's not real, though it looks to be so. Be careful out there. Use a program designed for compliance, please.

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*Warning: Lawyer using Chat GPT Unwittingly cited non-existent cases to Judge in Federal Court  (May 27, 2023). Why the *** Didn't the Lawyer  Using Chat GPT for Legal Research Shepardize the Cases it Produced? (May 28, 2023).