The pressure of financial crime is not new, but it is growing. The current challenge facing firms is the need to balance increasingly complex global regulation with a drive to deliver better customer experience, as well as reducing costs. This has created a complex environment to operate in, but getting compliance wrong is not an option. 12 of the top 50 banks were fined in 2019 for non-compliance with anti-money laundering, KYC and sanctions regulations. The total fines were nearly $8.4bn.
This is compounded by a year on year increase in the number of transactions that banks process and monitor. There is an increased expectation in the speed at which we expect banks to make our payments, and increasing expectations from the regulator for comprehensive, risk-based controls.
We help clients prevent, detect, and investigate financial crime. We aim to achieve that with the minimum disruption to customers and staff. In a rapidly evolving threat landscape, we combine expertise in financial crime and market abuse regulation as well as data and analytics. We incorporate tools such as machine learning to make sure you stay ahead of the threat. Our aim is to help you manage an environment of increasingly complex technology and regulation. We use collective thinking to help you achieve firm-wide resilience and unlock untapped advantage.
