The Institute of Internal Auditors Presents: All Things Internal Audit

In this episode, Antonio Cacciapuoti and Alessandro Casarotti join Ricardo Martinez to discuss the impact of AI on financial crime. They explore how AI is being used by criminals, the challenges it presents, and how internal auditors can leverage AI to enhance their controls and detection mechanisms.

Learn more from this episode's guests, Antonio Cacciapuoti and Alessandro Casarotti, at their upcoming session at The IIA's 2025 Fraud Virtual Conference on February 20th, 2025.

Host

Ricardo Martinez, senior manager, Portfolio Strategy, The IIA

Guests

Antonio Cacciapuoti, head of internal audit, Eurizon

Alessandro Casarotti, forensic and anti-financial crime director, PwC Luxembourg

Key Points

• Introduction to AI in Financial Crimes (00:00:02)
• Criminal Use of AI in Financial Crimes (00:00:35)
• AI's Impact on Misinformation and Market Manipulation (00:00:51)
• AI in Transaction Monitoring and Predictive Analysis (00:04:12)
• Challenges with Data Quality and System Maturity (00:07:24)
• Human Skills and Data Quality in AI Efficiency (00:08:31)
• AI's Role in Reducing False Positives (00:06:08)
• Importance of Human Factor in AI Implementation (00:09:11)
• AI's Limitations and the Need for Human Oversight (00:10:13)
• Future of AI in Internal Auditing (00:12:19)
• Multidisciplinary Approach for Future Talent (00:15:29)
• Risk-overreliance on AI by Young Auditors (00:17:29)
• Final Thoughts (00:18:23)

• Auditing Artificial Intelligence Course
• Demystifying AI: Internal Audit Use Cases for Applying New Technology

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