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
The 29th Annual Egmont Group Plenary was recently held in Abu Dhabi. Hosted by the United Arab Emirates’ Financial Investigation Unit (FIU), the plenary is… Read More »Consilient Featured at the Egmont Plenary
Background: Expanding the Conversation Around Risk In the first part of our exploration into the impact of Federated Machine Learning (FML) on financial risk management,… Read More »Managing Risk: The Power of Federated Learning
Background: De-Risking The task of financial crime compliance has become an increasingly complex endeavour for major financial institutions worldwide. As the magnitude and repercussions of… Read More »Reimagining De-Risking: The Power of Federated Learning
Consilient recently published a report based on a survey of U.S. consumers: Money Laundering: A Misunderstood And Underestimated Problem. The report found that consumers really don’t… Read More »The Survey Says It All – Consumers Underestimate Money Laundering
What are the impediments and challenges for FIs in making revolutionary changes in a highly regulated environment? Technology can significantly enhance firms’ ability to identify… Read More »The difficulty of implementing revolutionary changes
