What are my financial crime risks?

There are many ways in which your Firm can be exposed to furthering financial crime in the world of financial services. Many firms concentrate on the more obvious crimes such as money laundering and terrorist financing, however, firms should be aware that Financial Crime is much wider than this and can include; fraud, insider dealing, market abuse, bribery and corruption, cybercrime and even theft.

Why should firms be concerned about combating financial crime?

Combating financial crime should be high on every Firm's agenda, it certainly is for the regulator as we have seen by the enforcement actions and fines issued over the past few years. Not only can businesses and individuals alike suffer heavy financial losses due to the financial crime itself, but your Firm's reputation can suffer: the fines for breaches can be significant and the loss of management time dealing with a regulatory investigation means breaching these rules can be a costly error.

How can CCL help?

Our suite of Financial Crime Prevention services can reassure your Firm that it is adequately managing the associated risks of financial crime in line with the relevant regulatory requirements. 

Our Financial Crime Prevention consultancy services include:
  • Anti-Money Laundering and Counter Terrorist Financing – a full review and overhaul of your AML systems and controls, including training where necessary
  • Anti-Bribery & Corruption – reviewing and implementing fundamental controls to manage bribery and corruption risks
  • MLRO Reporting – ensuring the MLRO is aware of their regulatory requirements and establishing procedures to ensure these are adequately met
  • Whistleblowing – a review of the whistleblowing procedures in place and ensuring that the employees understand and have confidence with these procedures
  • Transaction monitoring – assisting Firms in building a transaction monitoring programme including designing the Compliance Monitoring Programme to review transactions for insider dealing and market abuse and establishing alerts to identify particular suspicious trading patterns
  • Review of internal controls – this review will include segregation of responsibilities, oversight and audit controls, corporate governance and management reporting
  • Financial Crime Risk Assessment – a comprehensive review of your financial crime prevention framework and remediating any gaps or weaknesses to prepare your Firm for regulatory visits
  • Sanctions Compliance – provision of tools and training to ensure your Firm and employees are adhering to sanction restrictions and subsequent reporting requirements

What should you do now?

To make an enquiry or discuss your company’s situation in detail, please contact one of our experienced Financial Crime Prevention specialists

We have a dedicated team of experienced compliance consultants who can provide expert assurance and peace of mind. Get in touch to see how we can help your Firm.