ThetaRay, a global leader in Cognitive AI for financial crime compliance, has announced the completion of an independent validation of its Anti-Money Laundering (AML) Transaction Monitoring and OFAC Screening Modules by Kaufman Rossin. The review, finalized in August 2025, confirms that ThetaRay’s AI-powered systems meet the growing regulatory expectations for governance, transparency, and model robustness in the U.S. and European Union. The findings will be highlighted at Money20/20 USA, a premier event focused on the future of finance and compliance technology. The validation comes at a pivotal moment as regulators worldwide intensify scrutiny on AI use in financial services. In the U.S., FinCEN’s proposed modernization of the Bank Secrecy Act calls for dynamic, risk-based compliance frameworks and stronger oversight of third-party AI models. Meanwhile, the EU’s AI Act imposes strict requirements on high-risk AI applications, including those used in financial crime detection, mandating transparency, human oversight, and continuous lifecycle monitoring. For financial institutions, this validation provides critical assurance that their compliance systems are not only cutting-edge but also independently verified and trustworthy. “Responsible deployment of AI means proving that our systems are not only innovative, but independently validated and trustworthy,” said Jeff Otten, Chief Revenue Officer at ThetaRay. “That assurance is what regulators demand, auditors expect, and customers deserve.” Jason Chorlins, Financial Services Practice Leader at Kaufman Rossin, emphasized the growing importance of such reviews. “Our assessment confirmed that ThetaRay’s AML and OFAC modules meet rigorous standards for accuracy, transparency, and governance,” he said. “This type of independent validation is no longer optional—it’s essential as regulators demand accountability and oversight in AI-driven compliance.” ThetaRay plans to extend third-party validation to additional modules, implement regular refresh cycles, and expand its assurance frameworks into new global markets. This ongoing commitment ensures the platform remains aligned with evolving regulatory standards across jurisdictions. ThetaRay’s Cognitive AI platform helps financial institutions move beyond the limitations of traditional rule-based systems by enabling faster implementation, smarter detection of suspicious activity, and improved operational efficiency. The platform has been adopted by leading institutions worldwide, including Santander, Clear Bank, Mashreq Bank, Payoneer, Onafriq, and Travelex. By identifying hidden criminal networks and delivering actionable insights, ThetaRay enables organizations to strengthen compliance, build stronger relationships with regulators, and enhance customer experiences. Kaufman Rossin, founded in 1962, is one of the top accounting and advisory firms in the U.S., offering audit, tax, business, and risk advisory services. The firm specializes in helping financial institutions navigate complex regulatory landscapes, strengthen compliance programs, and manage risk effectively. With offices across Florida and a national and international client base, Kaufman Rossin supports organizations in achieving long-term success through trusted expertise and forward-thinking solutions.