Financial Crime Compliance

Each year, private and public institutions invest billions in countering the increasingly sophisticated threat of financial crime. Our services reflect specialist, expert-led advice on the industry’s most complex problems.

Providing specialist advisory services:

• Delivering end-to-end financial crime framework assessments
• Defining financial crime policy and standards
• Designing financial crime target operating models and three lines of defense – including specialist operating models across every element of Financial Crime
• Designing and delivering financial crime training
• Designing and embedding financial crime quality assurance frameworks
• Delivering financial crime strategic communications and crisis management
• Regulator intermediation and inspection support
• Financial Crime operations optimisation
• Designing intelligence and investigations functions

Giving assurance on the most critical activities:

• Delivering financial crime capability assessments
• Validating transaction monitoring engines in totality – including data flows, rules, and customer segmentation
• Providing delivery and implementation assurance across your most critical Financial Crime change programmes
• Supporting with preparation for regulator inspection, including preparing for Skilled Person Reviews
• Delivering Skilled Person Reviews
• Delivering KYC file sample testing
• Acting as expert witnesses

Operationalizing dedicated fraud, ABC, tax evasion, sanctions, and proliferation of finance centre of excellence:

• Performing outsourced financial crime investigations and forensic reviews – including many of the most prominent investigations delivered globally
• Delivering data-driven fraud investigations, including COVID-19 fraud
• Reviewing ABC typologies and controls frameworks to identify gaps and areas of concentrated risk amongst high-net-worth individuals, high-risk geographies, and others
• Assessing exposure to tax evasion and tax avoidance risks across the customer pool – making recommendation and implementing robust controls to mitigate those risks
• Analysing sanctions risk exposure in line with emerging regulations, reviewing third party due diligence mechanisms, exposure through counterparty networks and ownership
• Optimising and delivering large-scale KYC and transaction monitoring remediation
• Performing transactional analysis, benchmarking of the behavioural patterns and remediation lookbacks to achieve compliance

Read Case Study: End-to-End Assessment of Global Financial Crime Framework for One of the Largest UK Inbound Banks

Financial crime is becoming increasingly more technologically sophisticated as criminals develop new ways of committing their crimes. In addition, emerging technologies have enormous potentially in deterring criminal efforts.

Transforming and Automating Customer Onboarding and KYC:

• Working with regulators to define mechanisms for supervising and assuring automated KYC
• Designing end-to-end automated customer onboarding
• Delivering technology-enabled perpetual ODD
• Working to achieve regulator acceptance of automated onboarding
• Advising on next generation low-code automated policies
• Optimising KYC verification, data entry and overall quality assurance with machine learning techniques
• Delivering enhanced PEP and Sanctions screening capabilities
• Delivering vendor assurance and due diligence
• Bespoke proof-of-concepts for automated KYC elements for complex businesses

Enhancing and Augmenting Transaction Monitoring and Trade Surveillance:

• Augmenting transaction monitoring with AI and machine learning to reduce false positives – including both auto-tuning rulesets and auto-closing alerts
• Building data-enabled fraud detection systems – including for emerging typologies, such as account takeover money mules
• Using data science to transform customer segmentation for transaction monitoring
• Designing internal blockchain-based trade monitoring systems
• Bespoke Sanctions screening solutions and assurance mechanisms
• Vendor selection and configuration exercises

Supporting and augmenting next-generation investigations and remediation:

• Rapidly undertaking data-driven reviews of books of business to identify Financial Crime risks
• Designing and building data-enabled FIUs and data-exploitation mechanisms for multiple geographies
• Replacing large-scale manual remediation exercises with leaner, more effective data-driven exercises
• FTI’s Augmented Investigations (Advanced Analytics), leveraging machine learning, natural language processing, classification analysis, time series analysis and network analytics

Read Case Study: Design and Delivery of Fully Automated Customer Onboarding for Major Global Bank

Through our extensive work for regulators, law enforcement, security services and the financial services industry itself, we have an unrivalled view of both the domestic and international regulatory agenda and full financial crime ecosystem.

Supporting regulators to better supervise and enforce Financial Crime legislation:

• Regulator supervisory transformation and modernisation
• Supporting regulators to establish international reputation
• Transforming media coverage
• Conducting Skilled Person Reviews
• Providing outsourced monitorships
• Establishing international reputation

Working across the public sector to have a lasting impact in the fight against Financial Crime:

• Providing EU country responses to centralised regulatory changes
• Supporting with FATF mutual evaluation
• Delivering economic crime strategy, including country-wide frameworks
• Reshaping government agencies
• Providing economic crime intelligence and investigations
• Providing supranational liaison support

Acting as world-leaders in the development of Financial Crime public-private partnerships:

• Designing and building public private partnerships from scratch
• Delivering multi-agency incident responses
• Designing intelligence sharing frameworks
• Defining the public- private value chain
• Delivering market studies
• Designing KYC and transaction monitoring utilities
• Supporting intelligence-sharing task forces in multiple geographies on a pro-bono basis

Read Case Study: Redesigning a Major European Regulator’s AML/CFT Supervision in Line With International Best Practice