Without insight into the effectiveness of controls and a framework to manage financial crime risk holistically, management can be blind to the true state of their business and caught unaware of emerging threats and risks.
To ensure prevention of terrorist financing and money laundering of criminal activities, regulators across the globe are requiring demonstrably strong financial crime risk management (FCRM) programs. In response, many institutions plan to make strategic investments in financial crime risk management solutions. The most successful solutions will incorporate features such as integrated AML and anti-fraud platforms, centralized case management, transaction monitoring and a structured, comprehensive view to manage financial crime risks.
Our three dimensional approach to FCRM is one based on the latest regulatory requirements, smart technologies and the personnel needed to help you ensure program effectiveness. Imagine linking regulatory change with your policies and procedures or feeding data from ongoing monitoring and screening efforts into risk controls with tests and audits to generate a structured, comprehensive view of the state of your financial crime risk. With Wolters Kluwer Financial Services, you can improve and enhance the company-wide view of financial crime risk across business lines and legal entities.
A financial crime control program that includes BSA/AML compliance and anti-fraud is essential. It allows an institution to be proactive about emerging areas of potential vulnerability, examine activity continuously, perform ongoing risk assessments of its existing customer base and respond quickly and efficiently to suspicious activity. Wolters Kluwer Financial Services’ crime control modules provide your organization a continuity of control, presenting only real threats and providing the ability to address those risks in the most efficient manner.
Assuring a solid financial crime risk management program is tough. Our consultants have helped hundreds of financial firms strengthen programs, conduct risk assessments and take corrective measures after supervisory findings.