Financial crime framework - Waystone

      Financial crime framework

      Supervisory authorities can impose severe penalties on businesses, senior management and individuals that do not establish appropriate controls to mitigate the financial crime risks their business encounters. These penalties are enforceable regardless of whether money laundering has taken place, underscoring the critical importance of having a financial crime prevention framework in place.

      Our financial crime framework support services

      Our financial crime prevention framework can help businesses adequately manage the associated risks of financial crime in line with regulatory requirements. We can provide you with a tailored service based on the following elements of support:

      • design and implementation of your AML/CTF governance and operational framework
      • preparation of firm-wide AML/CTF risk assessment
      • preparation of sanctions risk assessment
      • AML/CTF policy and procedure creation
      • MLRO advisory retainer
      • ongoing KYC/CDD support
      • SAR reporting framework
      • transaction monitoring support
      • FCA financial crime reporting (REP-CRIM)
      • AML/CTF training.

      Who do we support?

      We serve a diverse clientele who depend on our expertise to assist them in meeting their AML/CFT obligations. Our team of consultants collaborates with clients from various industries, ensuring that we can assist you with your AML/CFT needs, no matter your specific sector, including:

      • financial services
      • annex I financial institutions
      • payment services
      • real estate
      • letting agency
      • accountancy
      • gambling
      • legal
      • safe custody service
      • high-value dealers
      • art dealers.

      If you would like to discuss your requirements further, please get in touch with our UK Compliance Solutions team.

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