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Financial Crime Advisory

Assist firms in combatting financial crime and terrorist financing.

Last year, financial crime and cyber security combined cost the world economy $5.1 trillion – and that figure is set to rise. The challenge is how senior management protects their firms and customers from the threat of financial crime.

Firms need to ensure that the culture and customer base reflects the firm’s risk appetite, management information is robust, that controls are effective and there is an appropriate balance between manual and automated checks. TORI is ideally placed to help you assess, implement and tighten your control platforms. Our financial crime advisory service covers:

  • Governance and culture: An assessment of the responsibilities and roles of senior management, the resources and approach of the MLRO, how effective policies are on a day-to-day basis;
  • Internal controls, AML and sanctions health check: Through a range of interviews, client file reviews, desk shadowing and systems assessment we will undertake an in-depth assurance review. These will assess your financial crime risk exposure and identify gaps or opportunities across financial crime policies, procedures or processes.
  • Policy revision/enhancements: We will work with you to re-draft existing AML and Sanctions policies to include revisions required to close out gaps and inefficiencies. We can also discuss and recommend industry best practices.
  • Development and implementation of risk assessment tool: We will help you evidence that your control environment is effective at both an internal management level and to regulator satisfaction, mapped to risks and policies.
  • Enhanced risk culture: Working with Senior Management, we will incorporate a strong Three Lines of Defence model, instill confidence in compliance programmes through adequate training, and highlight the individual responsibility and consequences of non-compliance to AML/Sanctions policies.

Services this covers:

  • Risk assessment of existing internal controls and culture
  • Policy regulatory gap analysis and simplification
  • Staff awareness and training
  • Full Anti-Money Laundering (AML), Sanctions and Anti-Bribery and Corruption Health Check
  • Digitisation and automation of Know Your Customer (KYC) processes
  • Review of potential 3rd party threats
  • Reporting and MI Support
  • Systems assessment

Other Financial Crime Advisory Services

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