Money laundering, financial fraud, market abuse, sanctions, not to mention rogue trader etc - financial institutions are on the front lines of financial crime and are made vulnerable by the range of client relationships they manage and their wide array of products, services, and transaction types – some complex and cross border.

Global financial institutions also face multiple legal and regulatory requirements, and must navigate challenges posed by operating in multiple languages, business cultures and managing complex IT systems.

So what is your organisation doing to protect itself, management and all employees?

How much is enough?
‘Tick the box’ compliance will no longer suffice, as regulators advocate a risk-based approach and impose tougher penalties. In particular, the Financial Services Authority (FSA) has demonstrated a willingness to name and shame institutions for ineffective policies and procedures; but also a willingness to incentivise those which demonstrate they are seeking to do the right things and embed a regulatory complaint culture across the organisation.

Before, during and after
We can help to put in place preventative measures, investigate suspected incidents and identify and implement lessons to be learned. We also help institutions to take remedial steps following action by the regulator. Our regulatory expertise and experience of working with the FSA, the Treasury and the Joint Money Laundering Steering Group mean that we can provide an informed interpretation of what is required of regulated firms and how best to proceed.

A growing area of interest to the financial services sector is software that monitors transactions in real time for unusual activity. Our experienced team advises on selecting a vendor, negotiating terms and implementing these specialist packages.

A global force
Our ability to work at both global and local levels is a prerequisite for dealing with the sophisticated international networks used by criminals, terrorists and fraudsters. What’s more, our financial crime specialists come from a variety of backgrounds, including industry, law enforcement, and regulatory.