AML & Financial Crime Prevention
Our goal is for you to stay the step ahead of financial crime through proven expertise and with prudence.
We offer highly specialised expertise in financial crime prevention, gained from the financial sector and supervisory authorities. Our unique combination of strategic and operational experience, along with legal and technical capabilities, set us apart in the field.
Anti-money laundering (AML) and financial crime prevention are top priorities for financial institutes today.
To be successful in the current highly demanding regulatory and risk environment and effectively combat financial crime, organisations need to be pro-active, risk-based and systematic.
We help you navigate the rapidly changing risk environment, to prevent financial crime and meet regulatory requirements. Our practice covers anti-money laundering and counter-terrorist financing, international sanctions, fraud management, anti-corruption, methodology and governance frameworks, organisational and technical developments.
Anti-Money Laundering and Counter Terrorist Financing
Money laundering and terrorist financing are constant and growing concerns on a global scale. Our industry practice offers highly specialised capabilities to help you evaluate AML programs and systems. We help you identify potential weaknesses and efficiency gains.
We understand the challenges and pitfalls that your organisation faces. Our consultants have relevant skills and experience from all three lines of defence including strategic roles with supervisory authorities and FIUs to help you meet regulatory obligations and business objectives.
We offer a broad host of services within AML/CTF to the entire financial sector, from large banks to smaller fintechs.
We can help you with
- Review and develop your AML/CTF governance framework, policies, systems and procedures and corresponding organisational structures.
- AML/CTF risk assessment models.
- Independent risk model validation, leveraging our extensive experience in model development and advanced analysis of credit risk and market risk.
- KYC and onboarding automation
- Expert opinion and GAP analysis of your overall AML management system, including KYC, risk rating, transaction monitoring, screening, etc.
- Compliance reviews and internal audits
- Data analysis and models to improve and streamline risk-based measures
Talk to us about how your company can gain from our expertise in managing AML-programs and projects. We will be happy to help you evaluate priorities and make strategic decisions at the right time.
Anti-Bribery and Corruption, ABC
Fraud and corruption are key challenges in society today. Fraud will potentially increase 25-60 percent from now to 2025. According to a recent global survey on economic crime, two-thirds of organisations across industries that suffered from fraud discovered their most disruptive incident through corporate controls.
Meanwhile, 60% of organised crime use corruption as a means to operate. Infiltration and insider risk including conflict of interest are parts of this complexity.
Further, with the Corporate Sustainability Reporting Directive and the Sustainable Finance Disclosure Regulation organisations need adequate procedures to satisfy bribery and corruption due diligence, adverse impact and reporting requirements.
Advisense has expertise from developing anti-corruption and fraud management programs and auditing against global standards and guidelines, which combined sector experience to help you implement and create assurance around adequate anti- corruption and fraud management procedures and systems based on the context of your company.
We can help you with
- Risk assessments
- Gap-analyses across selected processes and procedures or your whole management system/program.
- Anti-corruption and fraud governance framework review, to assure adequate procedures to detect and manage your exposure to fraud and corruption risks
- Fraud and anti-corruption prevention policies and procedures
- Fraud detection and handling systems including vendor evaluation systems implementation
- Running an efficient organization around fraud detection and case handling
- 3rd party due diligence
- Competence development and training around obligations, risks and processes applicable to your company
- Integration of fraud and corruption prevention measures within the overall financial crime prevention strategy of your organisation.
International Sanctions Management
Financial institutions and other actors subject to sanctions compliance need to ensure that they have capacity and necessary capabilities to meet sanctions management obligations. It can involve the risk of reputational damage, financial penalties, restrictions in business permissions, or possible criminal charges.
As international sanctions change, so do transaction flows and methods to conceal. This includes low risk markets, and means that the scope of companies and individuals that can be linked to sanctions must be readdressed.
At Advisense, we have extensive experience of the regulatory environment for international sanctions from the EU, USA, UK and other jurisdictions. Our knowledge of how to work with screening and monitoring systems can help you effectively manage international sanction regulations and adjust progressively.
We can help you with
- Expert advice on current sanction regimes and how to prevent sanctions infringements
- Assessing your exposure to international sanction regimes
- Policies and procedures specific to your business activities
- Knowledge about screening and monitoring systems including adjustments
- Training your staff on regulations, operation models, investigations
Fraud Management
Prevention of transaction fraud has advanced considerably in recent years. But new forms of fraud are emerging at an even faster pace. Internal and external fraud, social engineering, infiltration, and more recently investment fraud on the rise.
All companies suffer from the threat of fraud, but different strategies are needed to address the risks, including intelligence and up-to-date routines reflecting your business environment. Knowing how to investigate, determine and act on fraud is a question of both assuring a well-functioning organization and a question of cost efficiency.
We can help you with
- Fraud risk assessments
- Fraud detection and handling systems including vendor evaluation systems implementation
- Fraud prevention policies and procedures
- Running an efficient organization around fraud detection and case handling
- Training of your team on anti-fraud investigations and current regulations
- Integration of fraud prevention in financial crime prevention governance
The Step Ahead of Financial Crime
Discover leading expertise, key insights, and new perspectives on Financial Crime Prevention here
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