FCRM - Financial Crime Risk Management

Financial Crime

Financial Crime can be a significant threat to a firm's earnings, capital and reputation, particularly when associated with a material failure to comply with a fundamental regulatory requirement or core governance policy. Financial Crime is any kind of criminal conduct relating to money or to financial services or markets, including any offence involving:

Fraud or dishonesty.
Bribery or corruption.
False accounting.
Misconduct in, or misuse of information relating to, a financial market.
Money laundering/Terrorist financing.
Handling the proceeds of crime.
Financial sanction breaches.

Regulators, such as, the Financial Services Authority ('FSA'), the Office of Fair Trading ('OFT') and HM Revenue & Customs ('HMRC'), require firms under their supervision to maintain risk-sensitive Systems and Controls, to mitigate financial crime risk; and to update/enhance such arrangements where they are found to be in need of improvement. For significant events involving fraud, error or irregularity, some firms also have regulatory reporting requirements.

FCRM assists clients and their professional advisors to manage relationships with regulators when identifying, preventing and responding to financial crime. We can provide specialist support to internal investigations or provide objectivity, by conducting independent investigations. We also provide audit and assurance testing services on the effectiveness of client systems and controls for financial crime.