WASHINGTON, DC/NEW YORK – 29 OCTOBER 2020 – K2 Intelligence Financial Integrity Network (FIN) and Giant Oak are proud to announce the launch of Consilient, a company dedicated to establishing the next-generation AML/CFT system through the application of revolutionary technologies. Consilient’s ambition is to solve the fundamental challenges of the lack of efficiency and effectiveness in preventing financial crime while protecting privacy and securing data. Consilient’s design provides a solution to creating a more effective approach to discovering and managing financial crime risk and protecting the integrity of the financial system efficiently.
Juan Zarate, global co-managing partner and chief strategy officer at K2 Intelligence FIN, serves as Co-Founder and Chairman of the Board at Consilient.
“The current global AML/CFT system is an outdated model that requires a new 21st century design that allows financial institutions, authorities, and other regulated actors in the financial system the ability to discover and manage evolving and complicated illicit financing risks to the financial system more proactively, effectively, and efficiently,” said Juan Zarate, who was the first-ever Assistant Secretary of the Treasury for terrorist financing and financial crimes, where he led the post-9/11 anti-money laundering and sanctions regime expansion in the United States and globally. “With Consilient, we are leapfrogging the current system with a revolutionary new design that meets the policy goals of preventing financial crime, leveraging more data and machine learning, sharing risks and resources, all the while protecting and preserving privacy. At last, we are now in a position to redesign the system—and help banks and institutions focus more intently and cost-effectively on systemic financial crime risks that matter most to the security and integrity of their enterprises and the financial system.”
To learn more about how Consilient, read the full press release.