Financial Crime Compliance Turning financial crime fighting into a competitive advantage Protiviti offers a multi-dimensional set of solutions and managed services to help your organisation efficiently fight financial crime while staying in sync with regulatory changes. We operate in a highly collaborative environment to promote knowledge and skill transfers and enable your teams to lead through innovative and sustainable processes. We leverage our unique, high value delivery model and manage financial crime risks through proven delivery of valued-added solutions. The financial crime landscape has become increasingly complex due to global uncertainty, cost pressures and technology-driven financial crime. The costliest elements of increased compliance are often attributed to: Anti-Money Laundering (AML) initiatives including sanction screenings, payment screenings, and transaction monitoringCustomer Due Diligence (CDD) initiatives including source of wealth reviews, source of funds reviews, and KYC remediation As financial crimes become more sophisticated and the regulatory landscape continues to evolve, financial institutions must adopt innovative, proactive and sustainable measures to keep up with the pace of change and effectively combat illicit actors. Financial Crime costs continue to escalate, making innovative solutions even more important Financial crime consulting services Pro Document Stack Assess and assure services We identify, quantify, document, monitor, and manage financial crime risks both horizontally across your business, as well as vertically down to any one individual customer relationship to evaluate the effectiveness and design of your financial crime landscape. We offer services like policy and procedure assessments; risk and controls regulatory assessments; program assessments; program and procedure audits; corrective action plan validations Pro System Security Regulatory response and remediation services We offer identification, planning and remediation of financial crime consulting vulnerabilities to help you reduce the overall regulatory risk to your business and keep up with evolving regulations. Our services include: incident and crisis response and management; disputes and claims; regulatory/examination planning and management; program remediation planning and execution; regulatory change planning, management, and execution Pro Legal Briefcase Investigation services We deliver meaningful, data-driven insights to help you improve the effectiveness of your program by consolidating your processes into one customised enterprise-driven solution. Our services include: forensic investigations related to fraud, Anti-Bribery and Corruption (AB&C), ethics and employee conduct, financial records, data breaches, claims and disputes; third party due diligence reviews; business intelligence research; transaction monitoring, source of wealth reviews and anti-bribery and corruption compliance program evaluation Pro Document Folder Fraud risk management Respond to red flags or fraud reports and develop right-sized fraud risk management programmes tailored to your unique fraud risk profile. Our teams assist organisations with architecting fraud control policies and response plans, risk assessment methodologies, and training and awareness programmes. We also help you leverage analytic tools and techniques to identify yellow and red flags that can be indicative of fraud and misconduct within your organisation. Pro Document Files Data and analytics services We analyse and validate business data to test the effectiveness of internal controls across your financial crime programs so your organisation can execute strategic initiatives while mitigating risks. Our services include: model development and testing; model validation, tuning, and optimisation; scenario analysis and development; data mapping, lineage, and transformation; data analytics methodology, techniques, and tools assessment and deployment; data analytics strategy development and implementation Pro Document Consent Transformational services We transform your compliance program using data, technology, and human intelligence to optimise your programs while reducing risks, containing costs, and improving your financial crime ecosystem: optimisation diagnostics; policy design and implementation; process reengineering and automation, robotic process automation (RPA), artificial intelligence (AI), digital transformation; data model and standards redesign and implementation; technology vendor assessment and systems implementation; transform program and project management; revenue preservation and loss prevention Pro Location Globe People and organisation services Protiviti’s approach to helping organisations leverage their most trusted assets, their people, is driven by the power of human intelligence where data, technology, change management, and training are the key ingredients to establishing a well-rounded people centric strategy: organisational model redesign and implementation, including job design; talent and competency assessment, competency model design and implementation; training curriculum/program design and implementation; change management; culture assessment, strategy development and execution Pro Rightmark Square Managed operations services Protiviti’s managed operations services helps organisations take a cost-effective analytical approach to better manage low-level low-costs tasks, anticipated resource needs, and improve flexibility, so organisations can focus on driving business growth and meet client demand. File and alert review/processing associated with remediations, backlog clearance, BAU activities; temporary operations management; ongoing risk analysis and risk analytics support; capacity modelling, planning and management; management information and metrics reporting and analysis How Protiviti can help ensure financial crime compliance Protiviti helps compliance officers, board members, and all three lines of defense respond to situations of noncompliance, provide sustainable anti-money laundering (AML) solutions and suspicious transaction reporting.Protiviti provides a wide variety of financial crime compliance services designed to assist organisations in all aspects of AML/Combating of the Financing of Terrorism (CFT) compliance. Drive innovative financial crime compliance consulting thinking and execution Our approach to managing compliance risk Protiviti understands the key financial crime challenges leaders face today as well as the future risks for which they need to prepare. We help companies around the globe identify, measure, and navigate their financial crime risks using tactical, sustainable and value-added solutions.Our approach is to drive innovative financial crime consulting thinking and execution and to help organisations shift the narrative from assessing financial crime risk to designing, building, implementing and effectively running financial crime consulting operations.Our experts help organisations like yours:Develop and implement enhanced business processes related to AML fraud, OFAC and sanctions, market abuse and trade surveillance and AB&C.Leverage technology, innovation and data to reduce costs, adhere to regulatory requirements and address evolving client challenges. What is financial crime and how can you prevent it? The most important factor for having a strong financial crime compliance culture in your firm is having effective controls to manage money laundering and financial crime risks. Watch the video to learn the top three tips from our experts to strengthen your organisation's financial crime compliance program. Leadership Jeffrey Hau Jeffrey leads Protiviti Hong Kong's risk and compliance and internal audit practices with more than 20 years of experience in regulatory compliance consulting and auditing. As the leader of the financial services practice, his specific areas of focus include advising ... Learn More Edward Choi Edward is a director at Protiviti with 14 years of experience in regulatory compliance and internal audit for global financial institutions. He is a leader in Protiviti’s risk and compliance practice and serves the financial services industry in Hong Kong.Prior to ... Learn More Featured insights INSIGHTS PAPER Understanding the Impact of the EU AI Act: A Primer for Financial Institutions Navigate the EU AI Act's impact on finance with our strategic guide to compliance and ethical AI use. INSIGHTS PAPER Crypto and the Travel Rule: What’s Going On? Navigate crypto Travel Rule compliance: understanding its impact, the need for flexible solutions, and areas of focus for implementation. WHITEPAPER Sanctions Risk Assessment: A Key Risk Management Tool Faced with the growing complexity of the geopolitical landscape, governments have been using financial sanctions increasingly as foreign policy tools to respond to developments as wide ranging as regional conflicts and wars, terrorism, and human... WHITEPAPER Can we trust culture and conduct to guide decision making in the financial services industry? More than 15 years after the great financial crisis, the financial industry’s culture and conduct remain very much in the headlines. Has nothing changed? A lot has indeed changed, though bad actors still manage to prevail at times. Maintaining good... WHITEPAPER 2024: Global Sanctions Outlook for Financial Institutions KYC took on added significance in the sanctions world in 2023. No, not Know Your Customer, though that certainly remains important. Know Your Cargo became a new mantra for sanctions practitioners and there is every indication it will continue to be... WHITEPAPER Managing EUDA Risks in Financial Institutions End-user developed applications (EUDAs) — applications developed and maintained by an organisation’s users rather than its information technology (IT) department — are a significant source of risk in financial institutions (FIs), as they are... WHITEPAPER Human v. machine: Tackling artificial intelligence risks in financial institutions In the novel Tell the Machine Goodnight, Katie Williams tells the story of Pearl, a technician for Apricity Corporation, which has developed a machine that “uses a sophisticated metric, taking into account factors of which we are not consciously... WHITEPAPER Managing Financial Crime Risks in a Changing Economic Environment U.S. Edition | June 2020 Financial Crime Risks in the Current Climate The current economic and business climate is a new frontier for financial institutions seeking to navigate challenges posed by deteriorating market conditions, customer... WHITEPAPER Mitigating crypto sanctions evasion risk in financial institutions The Financial Action Task Force (FATF) has long warned that criminals leverage virtual assets not only for predicate or money-laundering offenses but also to evade financial sanctions and raise funds to support terrorism. Even so, the number of... WHITEPAPER Collaboration: The key to better management of cybercrime and financial crime By Carol Beaumier and Bernadine Reese Sharing information and lessons learned has become increasingly critical for the effective management of cybercrime and related financial crime. This need requires financial institutions to rethink how they... Button Button
