Case Study

Fincrime Advisory and Remediation

August 2, 2019

Client
An industry leading financial institution.

Objective
The objective of the project was to identify any systemic issues within the firms AML/CTF framework by a thorough review. Following identification of the systemic issues and any shortfalls, fscom were engaged to develop and enhance the existing framework and to devise a practical implementation plan through the firm’s policies, procedures and training to ensure that the firm had a robust and effective AML/CTF framework to identify and mitigate risk to the firm.

Approach to engaging with the client
fscom was invited to outline the manner of systemic AML/CTF issues within the firm in a review and to create the development of its existing Financial Crime infrastructure. The stated goal of the project was to addresses the immediate regulatory concerns, as well as to design and develop a fit-for-purpose BAU Financial Crime infrastructure.

Outcome
The client is now in a better position to meet their regulatory obligations and is up to date with industry best practice. They have identified the potential AML risks to the business and can now effectively mitigate the risks.