Anti-Money Laundering (AML) , Fraud Management & Cybercrime

Fighting Money Laundering With Confidential Computing

New developments in confidential computing provide banks with new ways to fight money laundering, says Michael Reed of Intel.

See Also: Kaspersky Lab's New Focus on Fraud Prevention

”Confidential computing … uses an isolated portion of the computer processor called a trusted execution environment,” Reed says. “The trusted execution environment helps isolate the programs and the data while they're executing from the rest of the system and reduces the possibility that private or sensitive data can be seen by parties or programs that are not intended to see that.”

In a video interview with Information Security Media Group, Reed discusses:

• The development of confidential computing and federated machine learning;
• The application of confidential computing to AML activities;
• The potential for confidential computing use in credit qualifications, market rate calculations and loan origination.

Reed is the director of confidential compute enabling within Intel’s Product Assurance and Security Group. He and his team work with software developers, cloud service providers and hardware manufacturers to help them improve the security of their solutions. Reed has worked for over 25 years building and delivering new computing technologies spanning segments from consumer electronics to cloud software.