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Please contact us for more information:
Lisette Mermod
Risk Reward Limited
Risk Reward Limited
T. +44 (0)20 7638 5558
F. +44 (0)20 7638 5571
Financial Crime
Risk Reward offers a wide range of services specially tailored to meet the needs of anti financial crime functions operating in the financial services industry around the globe. Our aim is to work with clients to make this critical control function truly “best in class”.
Financial Crime, Money Laundering and Deterrence Services
All institutions are trying to maintain their reputation and reduce unnecessary losses. Money launderers target financial institutions to disguise the source of their funds. When an institution is found to have unwittingly supported a money launderer they suffer financial and reputational loss, apart from the potential for regulatory action.
It is important for all firms to do what could reasonably be expected of them to both identify and deter all financial crime. To assist firms in this area, Risk Reward Limited has launched a new range of money laundering deterrence services.
Professional Services Aligned to Your Needs
It is important to recognise the “all crimes” element and not just focus on the application of procedures to identify, detect and report suspicions of drug trafficking, for example. Money laundering is much more than that and in the UK in particular has been extended to address the reporting and monitoring of the proceeds of all criminal activity wherever committed (with minor exceptions). Risk Reward financial crime experts can assist you in a range of ways from deciding upon the systems that you wish to employ to actually conducting detailed investigations.
Advisory Services
Specialised AML/CFT and Financial Crime Services to Government Agencies, Regulatory Authorities, Financial Intelligence Unit:
- Prepare for a visit and respond to IMF/FATF/World Bank Assessment or Mutual Evaluation peer review from FSRB
- Work with government institutions, national coordination committee or private sector representative to address strategic deficiencies in AML/CFT framework and build up an action plan to work towards full compliance with the international standards
- Conduct independent forensic investigation of fraud, money laundering, corruption or alleged breach of regulation for regulators
- Review of AML/CFT measures in banks and financial institutions on behalf of regulators
- Provide independent review of a complaint about financial institutions or regulatory authority
- Develop comprehensive AML/CFT on-site and off-site inspection manual for regulators and FIUs
- Develop national AML/CFT strategy with detailed action plan addressing the vulnerabilities and a matrix of shared responsibilities to implement the strategy successfully
- Develop a comprehensive AML/CFT investigation manual for use by lawenforcement and prosecutors to ensure successful investigation.
- Work with regulators and FIUs to develop sector specific guidance and specialised area guidance for financial institution and DNFBP (Designated Non-Financial Businesses and Professions). Guidance on MLRO, PEP, Transfer, Risk-based approach and appropriate policies, procedures and controls to comply with AML/CFT legislation
- Develop methodologies to collect, collate, analyse, review and interpret large volume of financial and non-financial information to help to identify jurisdictional, product-related, service-related and client related risks.
Expertise, practical experience and know-how, combined with service excellence, rapid response and good value for money
- Carrying out Financial Crime Risk Assessments, advising on systems and controls to manage or counter these risks and drawing up Action Plans to implement the required systems and controls
- Developing risk-based policies and structures by working with Senior Management to decide upon the objectives and definitions appropriate for the in the area of money laundering deterrence and other financial crime
- The implementation of reporting investigation policies and procedures
- The implementation of money laundering and financial crime deterrence awareness and/or training programmes
- Fast-tracking advisory services for responses to post-regulatory ‘red letters’ and practical solutions required to demonstrate to the regulator that your organisation is taking advise to rectify the caution
- Auditing or risk reviewing clients’ anti-financial crime systems and controls, presenting reports to Audit Committee and/or the Board as appropriate
- Making presentations to Boards and/or Senior Management on the UK (or other jurisdiction) anti-financial crime regime and latest developments
- Software selection and implementation and the extent to which they are likely to identify the suspicious transactions whilst avoiding false positives
- Assisting with the implementation and testing of new software, including where appropriate the design of new scenarios and methodologies that leverage from the existing solutions
- The investigation of specific cases of potential money laundering, fraud or other financial crime, primarily to identify additional controls that could be implemented
- Undertaking specific bespoke reviews of a firm’s compliance with UK and International Sanctions requirements
- Specific Induction and Advanced training for Money Laundering Reporting Officers (MLRO) and Nominated Officers (NO)
- Undertaking S166 ‘Skilled Person’ reports for FSA authorised firms
- Provide forensic review/audit of financial crime system for Senior Management and Audit Committee.
Risk Reward has been undertaking financial crime training, both in-house and public courses, for many years focusing on the following areas:
- Advanced Workshop AML/CFT
- Anti-Bribery and Corruption Controls
- Anti-Money Laundering
- Anti-Money Laundering and Terrorist Financing
- Anti-Money Laundering Briefing for Legal Professionals
- Anti-Money Laundering for Private Banking and Wealth Management
- Auditing Financial Crime Regimes
- Bribery Act 2010 (UK)
- Bribery and Corruption
- CAMS Certified Anti-Money Laundering (ACAMS)
- Combating Financial Crime (CISI Accredited)
- Counter Terrorist Financing
- Data Protection
- FATF
- Forensic Accounting and Forensic Audit
- Fraud Awareness for Banking Supervisors and Regulators
- Fraud for Bank Internal Auditors
- Fraud Detection, Prevention and Resolution
- Fraud and Forensic Investigation
- Fraud Risk Management
- Fraud Workshop
- Global Financial Compliance (CISI Accredited)
- International Sanctions and Counter Proliferation
- Market Abuse
- Market Abuse and Insider Dealing
- Money Laundering and Financial Crime Deterrence
- OFAC Sanctions
- Practical Workshop in Regulation and Compliance
- Preparing for Down Raids and Regulatory Reviews
- Preventing, Detecting and Investigating Financial Crime
- Risk Management of Financial Crime
- Risk Management of International Sanctions Breaches
- Risk-Based Anti-Money Laundering or NOs and MLROs
- Treating Your Customer Fairly
- Understanding Money Laundering Deterrence
