About this paper

Money laundering continues to rise. Criminal and terrorist groups are finding new ways to move finances across geographies and between accounts to hide the proceeds of their crime.

An increasingly daunting framework of anti-money laundering (AML) laws and regulations has emerged for banks and financial institutions, which regulatory agencies are aggressively enforcing. There are huge fines for organisations that fail to comply.

The big challenge for banks and financial institutions is how to continuously optimise their systems and processes in response to these ever-more sophisticated money- laundering techniques and growing regulatory demands.

They need to demonstrate equal agility and innovation, yet are held back by systems that produce a lot of false positives and are not easy to adapt for better detection. This is leaving them exposed to a high risk of non-compliance, yet many feel the cost and disruption of implementing a new system is unviable.

In this whitepaper, we will explore how, by bringing together the software analytics heritage of SAS with the domain and implementation experience of Consortix, we can deliver a custom-configured, pre-tested AML package that can be up and running within just 12 weeks. The AML Accelerator is a standalone, scalable way to install the full functionality of SAS analytics software – either as an upgrade or replacement of your current solution or as a convenient bolt-on to enhance its functionality. Using the Consortix rapid implementation methodology, we can take you from an initial scoping session to a live system launch within 12 weeks, far quicker than a typical systems implementation approach.