Where your business operates in a regulated sector, financial crime compliance will be a necessity. We have seen many regulated businesses consider they are not at risk and then an event happens unexpectedly. For others, they are overwhelmed and need support to get a system in place for the basics to more complex compliance requirements.
Where businesses are not are not regulated, they are subject to a range of laws in place to help prevent financial crime and fraud and should look to regulated sectors to adopt best practice.
The impact of falling foul of preventing or failing to address correctly reports of financial crime or fraud in a business can be significant. There will be financial and reputational impacts, potential sanctions by regulators or police authorities, impact on morale and productivity.
Ensuring that compliance is not seen as a tick box exercise but a function that steadies and helps your organisation flourish is vital and this is where we can help. We believe our approach of encouraging engagement with all levels of your business on the subject of financial crime helps your people understand and help you identify the risks your organisation is exposed to.
Our Expertise Covers
- Financial Crime Compliance
- Insider Fraud
- Governance And Ethics
- Money Laundering
- Criminal Finance Act Compliance
We recognise for some in-house legal and compliance teams, it is not commercially viable to employ a full time financial crime lawyer. Our approach is to offer banks of hours to teams to drawn upon as and when needed. This coupled with our approach to integrate with these teams to provide our expertise when needed, be it for monthly reviews, ad hoc projects or specific ongoing litigation support, we have found this to be more cost effective and efficient for clients.
Even if your business is not in a regulated sector, our view is that financial crime compliance is part of the corporate maturity for every type of business and it is vital to show their commitment to reduce the impact of financial crime. This is not least because of legislation such as the Bribery Act 2010 and the Criminal Finances Act 2017 impacting across every business.
If it is training, risk assessments, policy reviews, investigation or litigation support, our financial crime compliance “bolt-on” services offer additional resource bandwidth. This approach has proved successful to our clients in a range of sectors from banking to housing associations.
To discover more about the world of financial crime and fraud please see our Fraud Hub.
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