Traditional transaction monitoring (TM) systems are failing. Designed to catch suspicious activity and keep banks compliant, these systems have become a costly burden that criminals… Read More »It’s time to look beyond traditional Transaction Monitoring systems for AML
Financial crime has never been more sophisticated. Bad actors constantly evolve their tactics, exploiting gaps between systems and the sheer complexity of global finance. Banks… Read More »Anomaly detection at scale: Consilient’s approach to high-risk entities
Money laundering activities in the United States account for an estimated $300 billion annually alone. Over the past decade, U.S. financial institutions have incurred substantial… Read More »Banking on collaboration: How to overcome the stalemate in AML innovation
AML approaches rely heavily on manual processes, just to prepare Suspicious Activity Reports is estimated to cost $180 million annually in analyst salaries in the… Read More »Anti-money laundering (AML) risk management reimagined: The Consilient approach
Financial institutions invest billions in anti-money laundering (AML) programs, yet they face two critical challenges that undermine their effectiveness. First, fragmented approaches across institutions create… Read More »How AI Federated Machine Learning strengthens AML defenses
Less than 1% of actual illicit transactions are detected globally. This is a hard fact to ignore. It leaves firms vulnerable to increasingly sophisticated criminal… Read More »Beyond the 1%: How AI Federated Learning is catching more financial criminals
The FCA’s recent £41 million fine imposed on Starling Bank for “shockingly lax” AML controls highlights issues that extend beyond the financial crime department, reaching… Read More »Lessons from Starling Bank’s AML fine: A wake up call for banks
We all know that the current approach to AML compliance is broken. Institutions that don’t prioritize AML innovation leave themselves vulnerable to losses. In fact,… Read More »From manual to machine learning: The evolution of AML compliance
Financial crime is a global crisis, with an estimated $800 billion to $2 trillion laundered annually through the financial system. Alarmingly, less than 1% of… Read More »How model intelligence is transforming financial crime detection
Reimagining De-Risking: The Power of Federated Learning Exploring the Future of Risk Management: Dive into our article on the transformative potential of Federated Learning in… Read More »Reimagining De-Risking: The Power of Federated Learning
