Financial Crime

Protecting your organisation from financial crime with a robust framework meeting legal and regulatory expectations

Combatting financial crime

Today’s environment is characterised by continuous change and disruption, where governments, regulators, law enforcement agencies and customers are focused on greater accountability and ever increasing personal and criminal liability.

There is a heightened expectation that Anti-Money Laundering (AML) / Financial Crime Compliance (FCC) should be at the forefront of doing business and an established cultural driver throughout the firm. Multi-jurisdictional business models and compliance requirements make AML/FCC even more complex and increase the risk of non-compliance and the spectre of regulatory censure.

Despite fines for infringing Financial Crime Compliance requirements reaching record levels in recent years, financial services firms are still struggling to meet their obligations. Failure to identify money laundering and financial crime risks, implement robust compliance frameworks, or take appropriate action for control breakdowns and errors of judgement, can have serious reputational, financial and legal consequences for firms and they may not survive.

Financial Crime Compliance assessment and remediation

Financial Crime Compliance

Innovative and practical solutions to help protect organisations from financial crime, supporting them in the effective management of financial crime risks. We provide:

A bespoke financial crime compliance We will conduct a financial crime risk assessment of your business, ensuring all FCC risks are adequately assessed, controlled and monitored.
Support with defining firms’ FCC policies and procedures around AML/Counter-Terrorist Financing (CTF), Anti-Bribery and Corruption (ABC), Fraud, Market Abuse, Sanctions.
Financial Crime risk identification and remediation of control gaps.
FCC framework capacity and capability support
Money Laundering Reporting Officer (MLRO) Reporting
FCC Corporate Governance and oversight arrangements
Tailored FCC training
Preparation for Regulatory Inspections and Interviews
FCC remediation pre and post Section 166 Order
Third-party due diligence on the clients’ behalf.

Mitigating Financial Crime with Framework Assurance

Utilising specialist partners alongside our regulatory compliance specialists at Xcina, we are trusted by our clients to deliver:

An all-encompassing financial crime risk solution that allows for seamless compliance processes for firms and their customers.
Ensuring that the firm’s FCC Framework is robust and operating effectively and that the supporting policies, procedures and other relevant documentation are fit for purpose to prevent, detect and report on financial crime.
Improved confidence through mitigating the risk of financial crime incidents and compliance breaches which could lead to regulatory censure and negatively impact the firm’s performance and reputation.
Assurance to the Board and Senior Managers on Financial Crime Compliance arrangements, enabling them to demonstrate compliance with legal and regulatory expectations. Evidencing the discharge of Senior Manager responsibilities and accountability with regard to financial crime compliance – thereby mitigating the firm’s as well as personal regulatory risk.

Choosing Xcina as your Financial Crime Compliance (FCC) partner

Financial Crime Compliance

We focus on building long-term partnerships with our clients and supporting them throughout their financial crime compliance journey.

Clients benefit from our extensive FCC expertise including leading practices and knowledge gained from working in their sector.

Our financial crime compliance consultants have many years’ practical experience across a range of firm types and keep on top of the latest developments. Our team includes former Senior Managers, Heads of Compliance, MLROs and Regulators. They are able to provide pragmatic value-added recommendations tailored to your specific context, not theoretical or boiler plate solutions.

We share our deliverables with you and provide knowledge transfer, including training so that your team is equipped to use and maintain your financial crime compliance framework independently going forward.

Working seamlessly with clients and external partners, we deliver a comprehensive financial crime risk solution that allows for an integrated compliance workflow for firms and their customers.

What our clients say

The client is the UK subsidiary of an overseas bank focusing on trade finance, corporate and personal banking. Xcina Consulting conducted an independent assessment of the Financial Crime Compliance (FCC) Framework covering financial crime policies, transaction monitoring, sanctions monitoring, onboarding and periodic account reviews, MLRO role, responsibilities and reporting, as well as financial crime training. We provided pragmatic recommendations to strengthen their FCC framework and mitigate risks.

UK Subsidiary of an Overseas Bank

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