A Chinese supercomputer was recently named the fastest computer in the world, deposing the reigning champion at the U.S. Department of Energy.
Supercomputers are typically used for sophisticated modeling of intricate systems, like weather, nuclear detonations, and airplanes. And let’s not forget certain spy agencies that are now analyzing giant reservoirs of metadata.
As supercomputers get faster and cheaper, they’ll also make their way into the hands of government regulators. What does that mean for compliance?
The Tianhe-2 (or Milky Way-2 in English) was developed by China’s National University of Defense Technology and is capable of 33.86 petaflops per second. In other words, the Tianhe-2 can perform 33,860 trillion calculations every second.
By comparison, the previous title holder, the U.S. Department of Energy’s Titan computer, only achieved 17.59 petaflops per second.
With the ability to perform trillions of calculations every second, governments will have a powerful tool in rooting out financial crime. Comparing millions of transactions in millions of combinations will happen in seconds, allowing for enforcement bodies to see every possibility of fraud, money-laundering, and other crimes.
Government regulators haven’t made it to that stage yet. But they’re getting closer. So preparing your compliance program to keep up with enforcement capabilities is essential. The lesson is that technology is always moving forward and compliance programs need to move with it.
Harry Cassin is in charge of product development for ethiXbase Pte Ltd. He can be contacted here.
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