Firms have detailed requirements on customer due diligence, transaction monitoring, reporting suspicions of money laundering, preventing bribery and corruption, managing fraud risks and preventing market abuse.
Legislators and policy makers have responded to successive market failures and the sophistication of organised crime by an increase in the number and complexity of offenses and regulations that apply to financial crime in its widest sense.
The challenge is how to move beyond using internal controls to ‘tick the box’ to a position where controls help you manage your financial crime risks actively.
How we can help
We have experience across the regulatory areas of financial crime, and support our clients in:
Assessing financial crime risk
We advise on and develop comprehensive financial crime risk assessments. These can assess both customer risk and organisational risk and will help you demonstrate you understand and actively manage your financial crime risks.
Conducting a financial crime health check
We review current systems and controls against regulatory requirements, performing a gap analysis and recommend a plan of action. We conduct interviews, process walk-throughs and file reviews to check whether you are fully compliant.
Ensuring your governance is fit for purpose
We review the reporting lines and flow of information across your organisation to ensure clear communication between the MLRO and the Board, and an integrated approach to financial crime between responsible departments.
Getting your policies right
Our team assesses policies and procedures, and, if necessary can work with you to develop your documentation based on current practice in line with regulatory expectation, and tailored to your business.
Training your people to understand risks
We can work with you to design a comprehensive training and assessment programme; training individuals and specialist teams to ensure a thorough understanding of your financial crime risks and controls.
Preparing for regulatory visits
We believe preparation for supervisory visits should be tailored and proportionate. Our team can walk you through the whole process, ensuring you are fully prepared.
Whether you need help with a specific area or ongoing support with financial crime compliance, we can help.
