Global Money Transfer Firm Brings In Israeli AI Financial Watchdog

International money transfer company Knox Wire has partnered with Israeli money-laundering watchdog Thetaray to monitor its bank-to-bank transactions. 

South African-based Knox Wire allows its users – among them banks, stockbrokers, and investment firms – to make cross-border payments in more than 190 countries and 150 currencies, with technology that streamlines the process and makes it near instantaneous. 

Thetaray’s AI platform “intuits” that the billions of dollars, euros and even shekels that are moved around the world every day are untouched by the money laundering carried out by drug cartels, terror groups and human traffickers. 

The Israeli firm says that the partnership will enhance Knox Wire’s security and compliance measures, safeguard cross-border payments and detect any illicit activity.

“We are proud to collaborate with Knox Wire in their mission to revolutionize cross-border payments,“ said Thetaray CEO Peter Reynold. 

“Our AI-driven technology will help maintain the highest level of global financial trust while enabling swift and secure transactions for people and businesses across the globe,” he said. 

“Our partnership with ThetaRay marks a significant step in revolutionizing cross-border payments, reinforcing Knox Wire’s security with advanced AI-driven AML monitoring. This ensures unwavering transaction integrity. We eagerly anticipate our joint efforts in shaping a more secure financial landscape,” said Knox Wire CEO Stephen McCullah.