Business Issue
An industry-leading financial institution needed a thorough review of its AML/CTF framework to identify any systemic issues and potential shortfalls. The goal was to address immediate regulatory concerns and enhance the framework to better identify and mitigate risks to the business.
Solution
fscom was engaged to conduct a detailed review of the institution's AML/CTF framework. Following this review, fscom developed a comprehensive plan to enhance the existing framework, focusing on creating practical solutions for the firm’s policies, procedures, and training. The project aimed to align the framework with industry best practices and regulatory obligations.
Benefits
As a result, the financial institution is now better equipped to meet its regulatory obligations. The enhanced AML/CTF framework allows the firm to more effectively identify and mitigate potential financial crime risks. The firm is also up to date with industry best practices, which strengthens its ability to manage compliance risks moving forward.
Client
Feedback
The client appreciated fscom's thorough and practical approach to identifying systemic issues within their AML/CTF framework. They found the solutions provided to be both actionable and effective, enabling them to strengthen their compliance infrastructure and ensure ongoing regulatory compliance. The client is now in a stronger position to protect itself against financial crime risks.
