Technology plays both a facilitating and mitigating role in money laundering risks. On one hand, technology enables new methods of money laundering like through electronic currencies and online banking. On the other hand, financial institutions rely on technology like transaction monitoring software to comply with anti-money laundering regulations and identify suspicious transactions. However, software alone is not a complete solution and well-trained staff are still needed to analyze transactions. New technologies also pose challenges as money laundering risks can change, and rules trying to define what constitutes suspicious activity can sometimes be abstract.