A Washington, D.C.-based nonprofit organization has teamed up with the departments of State and Treasury to host a virtual competition that will explore technology innovations that can help authorities stop corruption across the globe.
The Alliance for Innovative Regulation seeks to help the two federal governments facilitate the Anti-Corruption Solutions through Emerging Technologies sprint for agencies, companies and civil society organizations, the State Department said Thursday.
Specifically, the ASET program will focus on developing financial technology prototypes for potential implementation on a global scale.
AIR will collaborate with the Bureau of International Narcotics and Law Enforcement Affairs and the Office of Terrorist Financing and Financial Crimes on the tech sprint in support of the U.S. Strategy on Countering Corruption.
Jo Ann Barefoot, former deputy comptroller of the currency, co-founded the alliance with fintech entrepreneur David Ehrich in 2019 with the intent to connect industry leaders and regulatory agencies in efforts to modernize the country’s financial regulatory system.