FINANCIAL CRIME
As businesses embrace digital transformation and interconnectedness, the threat of financial crime escalates. Criminals exploit advanced technology and global networks to perpetrate various illicit activities, including money laundering, fraud, market abuse, terrorist financing, and cybercrime.
Regulatory scrutiny intensifies as traditional risk management approaches often fall short. Firms face heightened expectations to safeguard against financial crime.
How We Assist:
We collaborate with you to pinpoint vulnerabilities, implement robust anti-financial crime measures, and ensure compliance with pertinent regulations. We advocate that preventing financial crime transcends mere systems and processes; we assist firms in fostering a culture of compliance, underscoring the significance of ethical conduct.
Our team, comprising former, MLROs, CROs and consultants with extensive technological expertise, aids in managing risks associated with all facets of financial crime, including:
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Anti-money laundering
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Counter terrorist financing
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Sanctions compliance
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Fraud management
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Market abuse prevention
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Anti-bribery and corruption measures
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Tax evasion prevention
Tailored Approach:
Our services are customised, considering factors such as sector, size, and geographical footprint. Whether enhancing transaction monitoring systems, fortifying internal controls, or conducting employee training programs, we devise bespoke strategies to mitigate risks effectively.
Governance and Oversight:
We navigate complex regulatory landscapes, ensuring compliance and minimizing exposure to financial crime risks. Our data-driven insights empower senior management to oversee operations effectively, make informed decisions, and demonstrate compliance efficacy, thereby enhancing market reputation and operational efficiencies.
Risk Assessment:
Comprehensive risk assessments help analyse vulnerabilities and gauge compliance with regulations and anti-financial crime measures' effectiveness. We facilitate thorough assessments tailored to your business activities, products, customers, markets, and jurisdictions, offering insights into potential risks and mitigation steps required.
Technology and Data Analytics:
In some cases we can provide screening services which utilise advanced data analysis tools like AI and machine learning, we enhance transaction monitoring, risk assessment, and fraud detection. By selecting and implementing cutting-edge technology, we help detect suspicious activities efficiently and bolster defenses against emerging threats.
Business Process Improvement and Automation:
Automation technology fortifies defenses against evolving financial threats, streamlining compliance activities for cost-effectiveness, accuracy, and transparency. We assist in evaluating solutions and supporting effective implementation.
Regulatory Inquiries and Incident Response:
We aid firms in preparing for and responding to regulatory inquiries, audits, investigations, and incidents, ensuring swift responses, damage mitigation, and review of preventive measures.
Through NRS you have access to specialist PR firms to develop mitigation and response communications.
Independent Review, Testing, and Assurance:
Our independent reviews provide unbiased assessments, aiding firms in staying compliant, identifying weaknesses, and proactively adjusting policies, procedures, and controls to mitigate risks effectively.
Training, Awareness, and Horizon Scanning:
We are able to provide regular training sessions, awareness campaigns, and horizon scanning services to keep your teams abreast of evolving threats and regulatory requirements, fostering a proactive approach to financial crime prevention. We prioritize creating a safe reporting environment to encourage your employees to speak up about suspected wrongdoing.