Financial crime is something that most of the business organisations face while operating. This can lead them to a major hazard like reputational damage. The aspects of financial crimes are money laundering and fraud. If you run a firm, it will be beneficial for you to hire a financial crime consultant. There are some services that you need to know about the leading companies that provide the consultancy for financial crimes. The services are given below:

Providing assistance to the firms against bribery

The consultants generally help the companies extensively to meet all the legislative requirements, especially the Bribery Act 2010 and the Criminal finances of Act 2017. The six principles of these acts that are concentrated upon are a top-level commitment, proportionate procedures, review and monitoring, risk management and effective communication regarding training.

The service of providing assistance to the business firms also includes designing and implementation of TOM and frameworks. These models and framework include:

  • Management of information
  • Monitoring and assistance and reporting to the board
  • Training of the various channels to make them individual
  • Screening of environment and changing management

Ensuring early identification of attacks

The financial crime consultants that help the business firms generally adopt the NIM (National Intelligence Model) of the UK government. It is one of the best practices when it comes to business. The consultants can deliver the solutions of the financial crime that might happen because a good investigation is done. Moreover, the solutions to such problems are provided in accordance with the laws made by the UK government and the excellent practices for the industrial field.

The investigations and the responses are done by the following means:

  • The consultants try to set up the risk assessments in case of any threat like facilitation to evasion of tax, corruption, bribery, fraud or any standard beaches
  • The consultants can also go for judicial interviewing for the suspects or the staff wherever needed
  • You can expect a full-on investigation from the consultants of the financial crime issues from the financial crime consultants.
  • The efficient consultants also deliver the reports of the investigations wherever applicable as the firm to understand the aspect of financial crime and take proper lessons
  • Connection enhancement with the leading agencies for the enforcement that are also known as the regulators.

Help to decrease the chances of money laundering

Money Laundering is a major drawback for any business firms. The consultants make sure that your firm satisfies all the requirements for the 4th Money Laundering Regulations. The consultants also help to make your firm ready to meet all the forthcoming Money Laundering Regulations.

So, these are some of the leading services that are provided by the consultants of financial crime. With these services, your firm can face lesser chances of getting affected by finance crimes.


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