Owing to their increasingly complex structures, and the expanding market for internet sales, the FSA considers that financial services organisations are particularly vulnerable to crime. Such complex structures offer the potential for fraud to go unnoticed for long periods of time, and products sold via the internet can help fraudsters to create confusing transaction trails, which are difficult to audit.

The risk to financial crime threats from third parties and customers, as well as the internal threat from staff makes the task of creating adequate financial crime systems and controls a challenge for organisations.

Our experience in this area can be used for example, to help smaller companies to stay up-to-date as to how electronic developments could leave them susceptible to fraud; and how larger/complex organisations can stay vigilant against the threat of financial crime, including internal fraud.

The “risk-reward” pay-off for fraud is high compared to other crimes. Our aim is to work with you to redress the balance in your favour.

How we can help

• Support how you train your staff to better understand regulatory obligations,
• Assist you to conduct financial crime risk assessments