Areas of financial crime compliance
We help clients with:
Financial Crime Compliance
Financial crime compliance is driven by a number of factors. These include regulatory requirements, other legislation (legal requirements) and internal governance.
In a regulatory environment, it has been said financial crime compliance is driven so to avoid fines or regulatory sanction, but ultimately, organisations over the past ten years have woken up to the need play a role to prevention this area of criminal activity.
The desire to reduce financial crime is not solely motivated by reduction of damage to an organisation. There is now a greater desire to reduce money flow from such activity to illicit trade and terrorist activities.
Our approach to advising on financial crime compliance is driven by our experience of dealing with investigations and litigation where financial crime has occurred. We take our learning from those cases to demonstrate how such activities have taken place, the regulatory impact and how risk could have been reduced. Unlike many other service providers in the compliance space, as we are a law firm, we can offer advice with the benefit of confidentiality through legal advice privilege.
We offer consultancy by Arun Chauhan (who was the first private practice solicitor to gain the International Compliance Association’s post-graduate diploma in financial crime compliance). Be it for training days, policy advice, risk reviews or implementing governance change, Tenet are here to help.
We aim to keep our approach to fees for compliance and governance advice simple.
If engaged by your organisation in the UK, we charge a half day rate (4 hours) of £750 plus VAT or a full day rate (8 hours) of £1,250 plus VAT together with our cost of travel or overnight stay. If overseas, it will be slightly more.
We do not charge by the hour. We do not start by insisting on payment to understand what it is you need from us. We often spend time without charging potential clients so we can be sure we can help. For that reason, unless we consider we may be able to help, we do not charge for our time for that first meeting although we may charge for our costs of travel if away from our office location.
If we do not believe we can assist, we will tell you. If we think you are better served by another organisation, could take steps yourself or there is another route to upskill your organisation on this area of compliance, we simply tell you that.
We genuinely want to help those concerned about financial crime. Prevention is better than the cure.
To understand how we are different so to give more certainty on pricing across all of our areas of work, read how we see costs of dealing with investigations and litigation involving fraud which we think sets us apart.
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