Financial Crime can potentially be facilitated through any Financial Services business. If your business holds money, processes payments, or is in any way connected to banking, there is the possibility criminals could be misusing your service to commit fraud, or launder the profits of criminal activity. That’s why it is imperative that every Financial Services and Banking organisation hire skilled Financial Crime professionals including AML (Anti Money Laundering) Officers, KYC (Know Your Customer) Analysts and Fraud specialists who work together to ensure that the business and individuals within it are protected and all activity conducted with their operation is legal and legitimate.
This work covers the full customer lifecycle – staff will ensure new customers being onboarded do not have connections to crime, then monitor and review transactions that a customer is making with or through your business, looking for any signs of fraud or criminality.
If a business has been found to be enabling fraud, they can face substantial fines from the FCA and suffer serious reputational damage. These kind of failures often generate a lot of press, and can permanently alter the public perception of an organisation. A strong Financial Crime division is crucial to avoiding these pitfalls, and ensuring customers can trust your business.
Kind Consultancy has a long history of supplying interim and permanent Financial Crime experts to businesses of all sizes – and we can use a collaborative approach to understand your business needs, even helping to design the job specification for newly created positions if needed.