Money laundering has become real threat to financial system of country with advent of technology, AI: SC

New Delhi, Nov 20 (PTI) With the advancement of technology and artificial intelligence, economic offences such as money laundering have become a real threat to the functioning of the financial system of the country, the Supreme Court said on Monday while dismissing the bail plea of an accused.

Dismissing the bail plea of an employee of Shakti Bhog Foods Limited in a money laundering case, a bench of Justices Aniruddha Bose and Bela M Trivedi said economic offences have serious repercussions on the development of the country as a whole.

"With the advancement of technology and artificial intelligence, the economic offences like money laundering have become a real threat to the functioning of the financial system of the country and have become a great challenge for the investigating agencies to detect and comprehend the intricate nature of transactions, as also the role of the persons involved therein.