Financial Crimes Compliance  

Service / Financial Services Consulting

Protecting your business against financial crime is more crucial than ever.

In today’s complex financial landscape, sophisticated criminals constantly devise new methods to exploit vulnerabilities and extract value. Effectively managing FCC risks is becoming harder as industry forces pressure financial institutions across multiple fronts.

Our forensic accounting experts also have extensive experience conducting internal investigations, helping companies uncover employee theft, kickback schemes, or financial statement fraud. Their skills are also applied in due diligence processes during mergers and acquisitions, ensuring that financial representations are accurate and free from material misstatements. 

Beyond cases of corporate fraud, our forensic experts support bankruptcy investigations, insurance claims, and even family law cases where financial disputes arise, helping to quantify economic damages, value assets, and provide an objective analysis of complex financial situations. 

Managing FCC Risks 

Financial Crimes Compliance 

Regulatory Scrutiny

+  Fines for FCC-related offenses continue to increase in the aggregate and at the individual institution level  

+  Regulators are deploying advanced analytics to monitor compliance and effectiveness 

+  The sanctions landscape is growing in complexity 

+   Focus on emerging tech (crypto and AI) 

Evolving Criminal Behavior

+  Criminals are leveraging technology to devise more complex schemes, including using generative AI to impersonate company principals and Ultra High Net Worth Individuals 

+  Digital capabilities and assets provide a greater attack surface area 

+  Customer Due Diligence and monitoring are increasingly a realtime requirement 

Advanced Technologies

+  AI and machine learning (ML) algorithms to increase automation and reduce false positives 

+  Generative AI to help assist with high-context and judgement-oriented tasks, like investigations and SAR filing 

People and Talent

As the FCC team has grown, it is critical that institutions invest in their people and capabilities to increase performance while controlling costs.

Focus Areas

Cross-functional Collaboration

Encourage collaboration between compliance, legal, operations, and IT teams to break down silos and share crucial information.

Upskilling and Training

Regularly update employees on evolving regulations, emerging threats, and red flags associated with different financial crimes—train staff on data analytics tools, transaction monitoring systems, and other technology for detection and investigation.

Process and Workflow

Streamlining the core FCC processes and workflows can significantly improve the team’s efficiency and effectiveness.

Focus Areas

Cross-functional Collaboration

Encourage collaboration between compliance, legal, operations, and IT teams to break down silos and share crucial information.

Upskilling and Training

Regularly update employees on evolving regulations, emerging threats, and red flags associated with different financial crimes—train staff on data analytics tools, transaction monitoring systems, and other technology for detection and investigation.

Collaboration Platforms

Implement secure communication platforms and datasharing tools to facilitate seamless collaboration within the team and with other departments.

Benchmarking

Benchmark your team’s performance against industry standards and best practices to identify areas for improvement.

Technology and Automation

Focus Areas

Streamlined Workflows

Automate repetitive tasks, leverage case management systems, and optimize procedures to improve efficiency and reduce manual

Data-Driven Approach

Analyze historical data and transaction patterns to identify suspicious activities and prioritize investigations. Invest in Artificial Intelligence (AI) and Machine Learning (ML) tools for automated screening and anomaly detection.

How We Help Clients 

We provide comprehensive financial crimes consulting services, empowering you to proactively combat threats, minimize risk, and ensure the integrity of your operations. 

Focus Areas

Financial Crime Risk Assessments

We identify vulnerabilities, evaluate risks, and recommend tailored mitigation strategies.

Independent Review

We can conduct the BSArequired independent review function to meet your obligations and understand the program’s health and areas where it can improve.

Program Design and Implementation

We design and implement effective AML/sanctions programs that meet regulatory requirements and minimize regulatory risk.

Strengthen Your Defenses

We can provide the incremental expertise to enhance your ability to detect, prevent, and respond to financial crime threats, mitigate regulatory risk, and safeguard your reputation.

AI and Automation Strategy

We can help you leverage advanced AI models across the FCC value chain to reduce false positives, increase true positives, reduce the cost of being compliant, and effectively manage the risks associated with financial crime.

Training & Awareness Programs

We equip your employees with the knowledge and skills to recognize and report suspicious activity.

Team

;
David Onorato

David Onorato

Principal

Financial Services Consulting

Christopher S. Rigg

Christopher S. Rigg

Principal

Financial Services Consulting

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