Tag: Consilient

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

Customer Risk Ratings (CRRs) have long been integral to anti-money laundering and counter-terrorist financing (AML/CFT) frameworks. According to Consilient, despite their importance, many financial institutions...

Consilient has introduced a product tailored to transform the field of correspondent banking, a key component in global trade and cross-border payments. The inception of...

Founded in 2020, Washington DC-headquartered Consilient brings together next-gen technology and best-in-class AML and CFT knowledge to power a more secure, dynamic and effective solution for financial institutions.

Traditional AML systems are proving inadequate, struggling to keep pace with the evolving sophistication of financial crime.

Money laundering activities in the United States alone are estimated to total $300bn annually. In 2023, penalties for anti-money laundering (AML) violations in the U.S. exceeded $5bn—a 69% rise from the previous year. These figures underline the urgent need for a more effective approach to combatting financial crime.

Launching a new consumer and commercial bank involves numerous complexities and is a very costly venture. Ignoring compliance comes with a heavy price.

Consilient, which is on a mission to transform how businesses address financial crime, has launched its financial crime detection and prevention solution to market.