Tag: Consilient

Banks don’t struggle with KYC because they cannot access data; the bigger failure is that customer risk stops evolving once the onboarding file is...

Artificial intelligence is rapidly altering how financial institutions manage anti-money laundering programmes, but the shift brings a central question into focus: how can banks...

In the world of anti-money laundering (AML), credibility depends on more than mathematical performance. If models cannot be explained clearly, executives won’t trust them...

Fentanyl is one of the most lethal narcotics in circulation, and the funds that sustain its trade often slip past traditional financial crime controls....

Monzo’s £21m fine by the Financial Conduct Authority (FCA) has become a stark reminder for the banking sector: scale without control is not success....

Cross-border money laundering thrives where rules diverge. Criminals exploit the inconsistencies in supervision, disclosure, and enforcement across jurisdictions, flowing funds through loosely monitored entities,...

Smaller financial institutions are facing mounting structural challenges in meeting anti-money laundering (AML) requirements, despite being held to the same regulatory standards as their...

As financial crime grows more complex and voluminous, traditional AML systems are struggling to keep up. In 2023 alone, financial institutions in the US...

Ripping out and replacing anti-money laundering (AML) systems is no longer a practical option for most financial institutions. According to Consilient, deeply embedded legacy...

In the rapidly evolving financial security world, transaction monitoring stands as a critical defence against fraud and illicit activity. However, the persistent challenge of...