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Featured - 4 items
Identify, mitigate and respond to Financial Crime risk
Preventing, detecting and responding to Financial Crime risk is rapidly evolving into one of financial services firms’ biggest challenges, whereby the impact of any negative incident extends beyond monetary losses to reputation, employee morale, and potential regulatory censure. The PwC team applies lessons learned from investigating financial crime incidents and data analysis to support clients with developing their anti-financial crime systems, controls and processes. We work closely with our PwC forensic blockchain experts to help clients to manage financial crime and reputational risks associated with digital assets.
AML and Counter-Terrorist Financing
Our competencies in contributing to the fight against money laundering and terrorist financing:
Incident response and investigation – In the event of known suspicious activity or concerns with regard to money laundering or terrorist financing allegations, we support clients with clarifying the factual pattern and broader circumstances to support understanding, containing and remediating the identified risk. We help clients engage with, and respond to questions, from their regulators. The extent of response required depends on the potential risk and may include computer forensics. We have supported clients with remediating their control environments such that the identified activities and/or risk can be avoided going forward. We have experience performing AML/CFT investigations across asset classes, including digital assets.
Financial Crime Operating Models – We support clients in establishing and maintaining integrated effective anti-financial crime operating models including policies & procedures, systems, controls and process. Working closely with clients, we have seen regulatory expectation regarding fit for purpose anti-financial operating models increase over time. Through the use of artificial intelligence, process intelligence and data analytics, we support clients facing challenges regarding the optimisation of their transaction monitoring and screening systems.
Financial Crime due diligence – We conduct due diligence in respect of M&A to assess the maturity of a target’s financial crime operating model.
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Trade and Economic Sanctions
Due to an evolving geopolitical environment and several sanctions regimes, compliance with all applicable trade and economic sanctions remains challenging. We work with clients in executing:
Incident response and investigation – In the event of known sanctions breaches, we support clients in extracting relevant data and reviewing respective breaches. We deploy proprietary tools to identify the root-cause of failure and support with designing, and implementing any response, whether strategic, tactical, or remedial.
Remediation and look back exercises – We support clients in meeting regulatory or internal risk mitigation demands through reviewing or remediating past activity to identify potential system or process failures, confirming the integrity and effectiveness of the programme (Sanctions Due Diligence Reviews) and conducting sanctions risk assessments. We have also performed this work in the context of buy-side due diligence.
Sanctions Compliance Frameworks – We support clients with establishing policies and procedures within an integrated sanctions compliance framework. We assess underlying data management frameworks and support with the development of appropriate technical screening and monitoring solutions. Our work extends to designing and delivering training regarding sanctions compliance.
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Insider Trading and Market Abuse
We support clients from risk identification and legal analysis, to surveillance and alert handling, investigation and clearance.
PwC supports clients with the establishment and enhancement of anti-Insider Trading and Market Abuse control frameworks, including through the implementation of proprietary and third-party software.
Incident response and investigation – Faced with suspicions of market abuse or insider trading, PwC supports clients through conducting an independent investigation to identify any wrongdoing, risks and control weaknesses. Our work in this respect often includes data analytics and eDiscovery. The outcome of our work may be used to support legal proceedings and/or regulatory engagement.
Market Abuse Compliance Frameworks – We support clients with establishing robust market abuse and insider dealing policies, processes and controls - specific to our client’s risk and legal obligations - that prevent and detect misconduct.
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Your benefits
With our industry knowledge, technological expertise and operational experience, we help our clients build trust in society by partnering with them to fulfil their regulatory obligations. We therefore use an interdisciplinary approach, working closely with our PwC experts from other disciplines and territories.
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“A robust framework to manage risk starts with a proper and timely understanding of exposure to threats, including those created by new technological developments. We are happy to help.”
Contact us
https://pages.pwc.ch/core-contact-page?form_id=7014L000000PoCkQAK&embed=true&lang=en
Contact us
Partner and Forensic Services and Financial Crime Leader, PwC Switzerland
Tel: +41 58 792 17 60
Director Risk & Regulatory and AI Center of Excellence Leader, PwC Switzerland
Tel: +41 58 792 16 28
