Your partner in the fight against financial crime

Increasing regulatory compliance requirements set the agenda for the next few years for companies inside and outside the financial industry.

The topic of compliance continues to move up the priority list since the Financial Action Task Force (FATF) audit of 2022. The number of SARs has already doubled in the previous year. The volume of money laundering is estimated at 100 billion euros, and only a fraction of this is currently being detected. The German government is therefore planning a reform in the fight against financial crime as well as a new authority that combines essential competencies and specialist expertise under one roof and drives forward networking and digitization.

Money laundering prevention means extra work for companies

The impact on companies is obvious. Regular and ad hoc audits of business partners, customers and suppliers on the one hand and the monitoring of related transactions as part of a risk-based approach on the other are essential components of the anti-financial crime strategy. Together with elaborate documentation that is as complete as possible, it contributes to stabilizing Germany as a financial center.

This means that companies will have to incur additional costs in the prevention of money laundering. Efficient processes and the use of technological innovations help to achieve the goal and relieve employees.
Consileon’s experts can support you in this process.

Consileon: Consulting and implementation of your compliance requirements

Consileon is a longstanding and experienced partner in the implementation of regulatory requirements. Our customers rely on our in-depth and diverse expertise in analyzing and implementing regulatory requirements – from initial conceptual considerations to solution implementation and support during ongoing operations. In doing so, we keep an eye on the digitization and automation of existing processes to ensure efficiency in the implementation of your anti-financial crime program.

We support you with topics such as:

Implementation of process and organizational measures

Selection and tendering of solutions

Feasibility studies

Functional configuration of the systems

Services around your implementation projects

Thanks to our experts in the field of Blockchain / DLT and Machine Learning, we can also integrate new innovative topics such as cryptocurrencies and the use of artificial intelligence into your compliance processes.

We support you in operations, from the creation of the risk analysis to the daily handling of anomalies to the strategic implementation of company-wide governance.

Our focus is on the following topics:

1

Anti-money laundering and countering the financing of terrorism

Measures and processes geared to the customer’s specific compliance risks to identify or prevent money laundering and terrorist financing
Appropriate pattern recognition by optimizing rule-based models and enriching them with data-driven methods (AI)
Analysis of payment transactions (PA) and examination of PA behavior in a historical context (Know Your Transaction – KYT)
Realtime – comparison with sanctions and embargo lists in payment transactions

2

Know Your Customer und Third Party Management

Matching against sanctions, embargo and PEP lists in the onboarding and ongoing due diligence process
Risk-based initial assessment of the customer or business partner and ongoing readjustment according to historical behavior
Implementation of the supply chain due diligence law and digitalization or optimization of the associated supply chain process
Digitalization and automation of the supplier questionnaire and risk assessment

3

Compliance and digitization

Integrate key blockchain protocols with existing compliance solutions to implement the “crypto travel rule”
Supplementing and optimizing existing rule-based models with data-driven methods
AI-based data platform for standardized and ad-hoc evaluations in the context of the compliance requirements catalog
Automated monitoring for early detection of compliance threats and red flags

The Consileon service portfolio

As consultants with a technical background, we see ourselves at the interface between the customer and the IT product provider, who knows the customer’s wishes and translates them into software or implements them as part of the customizing of the software. We help our customers to optimize their requirements and thus to be on the “safe side” from a regulatory point of view. We support them in their operative business as well as in their strategic reorientation.

We take responsibility within the framework of project management tasks and ensure the quality of the project by means of suitable tools.

In this way, we create added value for the company – regardless of industry affiliation – and keep the “regulatory back” free so that the decision-makers can concentrate on their business.

Your expert for compliance issues: Dr. Steffen Gutjahr

For more than 14 years, Dr. Steffen Gutjahr has been involved with the topic of compliance as a business unit manager and at management level. He has great expertise in the development of compliance solutions and their integration into the infrastructure of customers as well as the corresponding processes in the finance and non-finance market. He is particularly interested in the interplay between compliance and AI. He is also a lecturer for mathematics and artificial intelligence at the Duale Hochschule Baden-Württemberg Stuttgart (DHBW).

Steffen.Gutjahr@consileon.de
+49 174 2315906