SKOTT CONSULTING

Financial Crime Compliance

FINANCIAL CRIME COMPLIANCE

TELEPHONE

0207 0303 987

FIND US

London, UK

HOURS

09:00 – 17:30

EMAIL

info@skott.co.uk

SKOTT CONSULTING

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Financial Crime Compliance is now a critical element of any firm’s operating model, driving the right culture and ways of working to protect individuals and organisations from fraud, money laundering, reputational damage and regulatory sanctions.

With the exponential increase in financial crime threats and regulatory requirements, it is essential that firms have the appropriate infrastructure in place to both counteract and respond to incidents or regulatory oversight.

Skott Consulting specialises in supporting clients to develop and implement cost effective risk based and proportionate, yet comprehensive control frameworks, remediating existing deficiencies, responding to incidents or deploying integrated financial crime projects across the firm. Additionally, it can provide assurance assessments, training or other financial crime support as required.

Skott Consulting supports clients by working together to fully understand the firm’s risks and operating environment to meet their needs, whether as a stand-alone assignment, interim leadership or to supplement the firm’s existing capability.

OUR SERVICES

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Assisting Firms to ensure that they meet their regulatory requirements, in particular, the 4th Money Laundering Regulations, FCA Financial Crime Handbook, JMLSG guidance and the sanctions environment. Additionally, to prepare for the up-coming 5th & 6th Money Laundering Regulations.  Design and implement Financial Crime Target Operating Models (TOM) and frameworks.

Assisting Firms to ensure that they meet their legislative requirements, in particular, the Bribery Act 2010, the Criminal Finances Act 2017 (corporates facilitating tax evasion in the UK and overseas) and their respective regulatory guidance of six principles; proportionate procedures, top-level commitment, risk assessment, due diligence communication including training & monitoring and review.  Design and implement Financial Crime Target Operating Models (TOM) and frameworks.

Assisting Firms to develop their intelligence and monitoring systems and processes for early identification of threats or attacks. Also, intelligence gathering, assessment and reporting adopting of the UK Governments National Intelligence Model (NIM) and best industry practice. If a threat has materialised, then assist in the incident assessment, response planning and investigation in accordance with UK law and industry best practice.  Design and implement Intelligence Operating Models and frameworks.

Including:
    • Governance and control environment
    • Policy, standards, process (re-engineering) and guidance
    • Risk assessments and management
    • People, culture change and training
    • Customer Due Diligence (CDD), Enhanced Due Diligence (EDD) and risk & transaction monitoring
    • Intelligence, information, incident management and communications
    • Training,design and deliver through various channels and individually styled from annual training to role specific
    • Remediation of existing deficiencies
    • Assurance, monitoring and Board reporting
    • Regulation change management and environmental screening

 

Including:
  • Governance and control environment
  • Policy, standards, process (re-engineering) and guidance
  • Risk assessments and management
  • People, culture change and training
  • Due diligence and risk & transaction monitoring
  • Intelligence, information, incident management and communications
  • Training; design and deliver through various channels and individually styled from annual training to role specific
  • Remediation of existing deficiencies
  • Assurance, monitoring and Board reporting
  • Regulation change management and environmental screening
Including:
  • Governance and control environment
  • Policy, standards, process (re-engineering) and guidance
  • Intelligence risk assessments and management
  • Intelligence sharing protocols and agreements
  • Intelligence reporting
  • People, culture change and training
  • Training; design and deliver through various channels and individually styled from annual training to role specific

Incident Response & Investigations

  • Conduct risk assessments to any threat or incident of fraud, bribery, or corruption, the facilitation of tax evasion or any breach of policy and standards
  • Conduct in depth investigation, provide an evidential pack suitable for both internal management and external litigation including detailed reporting with lessons learnt
  • Interview staff and suspects in accordance with business policy and where appropriate to judicial alignment
  • Support liaison with law enforcement agencies or oversight bodies such as Regulators

 

OUR SERVICES

//////////

Assisting Firms to ensure that they meet their regulatory requirements, in particular, the 4th Money Laundering Regulations, FCA Financial Crime Handbook, JMLSG guidance and the sanctions environment. Additionally, to prepare for the up-coming 5th & 6th Money Laundering Regulations.
Design and implement Financial Crime Target Operating Models (TOM) and frameworks.

Including:
    • Governance and control environment
    • Policy, standards, process (re-engineering) and guidance
    • Risk assessments and management
    • People, culture change and training
    • Customer Due Diligence (CDD), Enhanced Due Diligence (EDD) and risk & transaction monitoring
    • Intelligence, information, incident management and communications
    • Training,design and deliver through various channels and individually styled from annual training to role specific
    • Remediation of existing deficiencies
    • Assurance, monitoring and Board reporting
    • Regulation change management and environmental screening

Assisting Firms to ensure that they meet their legislative requirements, in particular, the Bribery Act 2010, the Criminal Finances Act 2017 (corporates facilitating tax evasion in the UK and overseas) and their respective regulatory guidance of six principles; proportionate procedures, top-level commitment, risk assessment, due diligence communication including training & monitoring and review.  Design and implement Financial Crime Target Operating Models (TOM) and frameworks.

Including:
  • Governance and control environment
  • Policy, standards, process (re-engineering) and guidance
  • Risk assessments and management
  • People, culture change and training
  • Due diligence and risk & transaction monitoring
  • Intelligence, information, incident management and communications
  • Training; design and deliver through various channels and individually styled from annual training to role specific
  • Remediation of existing deficiencies
  • Assurance, monitoring and Board reporting
  • Regulation change management and environmental screening

Assisting Firms to develop their intelligence and monitoring systems and processes for early identification of threats or attacks. Also, intelligence gathering, assessment and reporting adopting of the UK Governments National Intelligence Model (NIM) and best industry practice. If a threat has materialised, then assist in the incident assessment, response planning and investigation in accordance with UK law and industry best practice.  Design and implement Intelligence Operating Models and frameworks.

Including:
  • Governance and control environment
  • Policy, standards, process (re-engineering) and guidance
  • Intelligence risk assessments and management
  • Intelligence sharing protocols and agreements
  • Intelligence reporting
  • People, culture change and training
  • Training; design and deliver through various channels and individually styled from annual training to role specific

Incident Response & Investigations

  • Conduct risk assessments to any threat or incident of fraud, bribery, or corruption, the facilitation of tax evasion or any breach of policy and standards
  • Conduct in depth investigation, provide an evidential pack suitable for both internal management and external litigation including detailed reporting with lessons learnt
  • Interview staff and suspects in accordance with business policy and where appropriate to judicial alignment
  • Support liaison with law enforcement agencies or oversight bodies such as Regulators

 

OUR EXPERIENCE

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Project One

We were engaged by a major UK investment company (£26b funds under management) to completely review and overhaul their PEP and high-risk client framework.  Read More…

Project Two

We were engaged by a UK wealth management company (£100b of investments) separating from their parent company, to develop the Financial Crime Framework across its group of five subsidiary financial firms involving multiple jurisdictions.
Read More…

Project Three

Managed the response for a major retail financial institution to the Regulator’s full AML, CTF, ABC & Compliance framework audit in readiness for the UK’s Mutual Evaluation Report (MER) by FATF in 2017.
Read More…

Project Four

Managed for a major retail financial institution a review of risk to vulnerable customers from a Compliance (Treating Customers Fairly), AML/CTF and fraud perspective.
Read More…

Project One

We were engaged by a major UK investment company (£26b funds under management) to completely review and overhaul their PEP and high-risk client framework.  Read More…

Project Two

We were engaged by a UK wealth management company (£100b of investments) separating from their parent company, to develop the Financial Crime Framework across its group of five subsidiary financial firms. Read More…

Project Three

Managed the response for a major retail financial institution to the Regulator’s full AML, CTF, ABC & Compliance framework audit in readiness for the UK’s Mutual Evaluation Report (MER) by FATF in 2017. Read More…

Project Four

Managed for a major retail financial institution a review of risk to vulnerable customers from a Compliance (Treating Customers Fairly), AML/CTF and fraud perspective. Read More…

Project One

We were engaged by a major UK investment company (£26b funds under management) to completely review and overhaul their PEP and high-risk client framework.
Read More…

Project Two

We were engaged by a UK wealth management company (£100b of investments) separating from their parent company, to develop the Financial Crime Framework across its group of five subsidiary financial firms involving multiple jurisdictions.
Read More…

Project Three

Managed the response for a major retail financial institution to the Regulator’s full AML, CTF, ABC & Compliance framework audit in readiness for the UK’s Mutual Evaluation Report (MER) by FATF in 2017.
Read More…

Project Four

Managed for a major retail financial institution a review of risk to vulnerable customers from a Compliance (Treating Customers Fairly), AML/CTF and fraud perspective.
Read More…

For further details regarding our experience and projects please click here:

CONTACT US

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If you are interested in working with Skott Consulting please get in touch via our Contact Form.