Financial crime continues to be a major issue for governments, regulators and businesses. Compliance with financial crime regulations has becoming increasingly complex and costly, making it more challenging for organisations to combat the threat of financial crime effectively. In particular, businesses are having to keep up to date with ever-changing anti-money laundering legislation, rules and guidance.

Penalties for non-compliance are also becoming more severe. In recent years, the FCA has issued large fines for non-compliance for both regulated and non-regulated firms. All firms are facing increasing pressures on internal teams to prevent, stop, and respond to instances of financial crime.

Technology is enabling firms to better identify and prevent financial crime, but criminals have also developed new ways to conduct it, making it increasingly difficult for firms to identify it.

Firms must take a holistic approach in managing financial crime across the business, ensuring they have control mechanisms and procedures in place to deal with the risk of financial crime.

How can we help

We have extensive experience in dealing with financial crime matters. Our experts in this area can work with your in-house teams to combat all types and sources of financial crime, including:

  • money laundering and terrorist financing;
  • fraudulent activity;
  • bribery and corruption;
  • sanctions;
  • tax evasion;
  • transaction monitoring;
  • market abuse; and
  • cyber and information security.

Our team is also experienced in undertaking financial crime Section 166 Skilled Person reviews. We can provide organisation-wide assurance reviews and gap analyses to help your firm stay compliant.

Our services

We help businesses to manage financial crime through a range of services including:

  • design and implementation of financial crime functions, operating models, frameworks and governance arrangements;
  • review and enhancement of policies and procedures;
  • design and development of operational procedures, such as client onboarding processes;
  • undertaking comprehensive client file reviews to ensure internal standards and regulatory requirements are being adhered to;
  • supporting with client file remediation activities;
  • helping to identify new technologies and vendors for enhancing financial crime controls and processes, such as identity verification;
  • creating smooth and compliant customer journeys;
  • creating bespoke training packages for staff for all areas of financial crime, such as AML; and
  • review and improvement of financial crime management information.

Through a tailored and proactive approach, we can help prevent and respond to incidents of financial crime. Every service we offer in this area will be aligned with the extensive regulatory and compliance demands your business faces.

If you would like to find out more about our financial crime services, please contact Paul Jennings or Catherine Brittain.