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Please contact us for more information:
Lisette Mermod
Risk Reward Limited
T. +44 (0)20 7638 5558
F. +44 (0)20 7638 5571
Financial Crime
Money laundering deterrence and terrorist financing are two of the largest problems faced by financial institutions today. Anti-money laundering regulations oblige firms to put in place certain controls to prevent and detect money laundering and to report any suspicious activity they come across. As money launderers have resorted to ever more sophisticated ways of disguising the source of their funds, so the employees of financial institutions have to be ever more aware of what they are dealing with, and how they should deal with it.
The financial markets are increasingly seeking deterrence advisory services and training which is practical, using experience combined with technical knowledge to address these complex challenges quickly, efficiently and as needed, discretely. At Risk Reward, we have developed an up-to-the-moment relevant, quality led service based upon the skills of an experienced management team, and experienced pool.
All our financial crime consultants and trainers, under the leadership and supervision of David Blackmore, are established experts in money laundering deterrence, market abuse and financial crime prevention with the ability to provide added value to every client through the application of personal knowledge and practical experience. Each has held roles as Director, Head, Senior Manager or MLRO/NO within major UK and international banks and other financial institutions with experience in both developed and emerging markets.
Just like the ocean, criminals never stand still but are always manoeuvring to find new ways of making money at someone else's expense. In turn policymakers and regulators the world over seek ways to prevent, deter and prosecute wrong doers and those who knowingly or recklessly breach rules designed for the public benefit.
Consequently 'financial crime' has come to have an ever-wider meaning. It now encompasses:
- Internal Fraud
- External Fraud
- Money Laundering
- Terrorist Finance
- Expert Witness
- Finance to assist the proliferation of Weapons of Mass Destruction
- Breaches of Arms Control
- Market Abuse
- Insider Dealing
- Bribery and Corruption
- Breaches of Sanctions legislation
- Ineffective data security controls over client information
- Illegal deposit - taking and lending
This is a truly daunting and ever-expanding remit for Money Laundering Reporting Officers (MLROs), nominated officers, compliance officers, senior managers, risk managers and all those charged with anti-financial crime compliance in financial firms and related entities. In order to meet these challenges Risk Reward offers a fully-comprehensive range of solutions from large scale consulting and major training programmes down to individual support and discreet in-house seminars. We operate throughout the financial services industry and have expertise in almost every area of banking and finance worldwide.
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We only recruit seasoned experts to join our consulting and training staff and our commitment is to provide the best in the business - technical and compliance professionals who are not only well qualified but who possess a minimum of 15-20 years of proven experience at senior levels and are always up to date with the latest development. This means our consultants and trainers can add value from day one by adapting seamlessly to individual client approaches, methods and structures and more often than not, find they are able to suggest new or amended strategies for consideration based on their own past experience.
We can work with an existing in-house team by providing expert knowledge in specific areas, or we can supply additional capacity to an over stretched compliance/financial crime function. Our experts can undertake complete reviews where required and will recommend what resources would be necessary to achieve an individual client's goals bearing in mind at all times that businesses are run on a commercial as well as a regulatory basis.
We also provide full professional training services and have been doing so successfully for banks and other institutions worldwide and have a particular expertise in Africa, the Middle East, Asia and other emerging markets. We can provide large scale multi-business unit cross-border training programmes on a wide range of related issues or we can train 1:1 and small groups of individuals, from Board level to general staff, whose skills merely need refreshing.
Customised training courses are often arranged to meet both the client's requirement and those of its particular regulatory bodies. Training can be delivered either at the client's own premises worldwide or in our training facilities in London.
Risk Reward has been undertaking financial crime training, both in-house and public courses, for many years focusing on the following areas:
- Understanding Money Laundering Deterrence
- Risk-Based Anti-Money Laundering for NOs & MLROs
- Money Laundering & Financial Crime Deterrence
- Risk Management of International Sanctions Breaches
- Fraud for Bank Internal Auditors
- Combating Fraud & Crime in Banks & Financial Institutions
- Anti-Money Laundering & Terrorist Financing
- Anti-Money Laundering for Private Banking & Wealth Management
- Anti-Money Laundering Briefing for Legal Functions
- Preventing, Detecting and Investigating Financial Crime
Association of Certified Anti-Money Laundering Specialists ACAMS ®
For more information, a prompt reply and competitive quote solutions please contact:
Accounts Manager
Cariska Pieters
Tel: +44 (0) 20 7638 5559
CP@riskrewardlimited.com
Our costs are extremely competitive and we pledge to deliver an expert service at all times. We are well aware that we are always judged solely on the basis of client satisfaction and regard the maintenance of outstanding standards and professionalism as paramount. Why not call us and see if we can meet your needs?
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".
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.
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.
- 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' antifinancial 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.
- Advising UK clients on preparing for management of and follow-up on regulatory reviews including FSA ARROW 2 reviews.
- Specific Induction and Advanced training for Money Laundering Reporting Officers (MLRO) and Nominated Officers (NO).
- Undertaking s166 'Skilled Person' reports for FSA authorised firms.
How can we assist you?
Financial Crime Specialist
Lisette Mermod
LM@riskrewardlimited.com
