De-Risking

De-risking is a relatively new practice adopted by banks and other financial institutions. It refers to the broad withdrawal of banking and other financial facilities to categories of customer.

It has been said that this trend has been influenced by fines imposed on the financial sector in recent years and fuelled by concerns regarding the risk of money laundering and terrorist financing.

However, the term has adopted a wider meaning and can be used to describe the process by which other corporate bodies and organisations may remove operations, customers and processes that are deemed to be “risky”

Case Studies

Financial Crime Compliance & Governance

The one with the bank focussed on reduction of fraud risk

Client Type - company

View case study

Advised the invoice discounting team of a UK national clearing bank in relation to their obligations for reporting in relation to suspicious activity reports.  Further guidance was provided on training to the organisation with respect to their risk exposure to various types of fraud in this specific industry. This training led to providing specific advice […]

Tenet can assist in reviewing processes and procedures, and by seeking to identify and isolate such practices that would be categorised as “risky” in terms of money laundering, terrorist financing and other financial crime.

Tenet can advise on ways to reduce the risk by tightening up processes and procedures, insisting on additional checks and balances, or will advise on the removal of such practices completely.

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