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Financial Crime is an ever-increasing blight on social cohesion and financial stability globally. Mitigating it is a challenge for all participants: law enforcement agencies, financial institutions, governments, and regulators globally; it is too big for any single participant to take on, everyone has a role to play.
As gatekeepers, financial institutions have a key role in blocking criminal access to the financial system. However, the pace of criminal ingenuity, primarily led by technological advances, places an ever-increasing burden on them to evolve at pace to keep up.
PwC partners with financial institutions to make the financial system safe and trustworthy. 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.
‘Effective measures against financial crime require an integral vision’
We support the transformation of our clients' organizations by advising on Regulatory, Operations, Analytics and strategy challenges within Financial Crime. We support and work together with a number of global and local financial institutions in various compliance related activities, such as: AML/CFT policies, health checks, risk modeling, transformations, systematic integrity risk analysis (SIRA), execution of remediations, look-back exercises and designing and implementing cost-efficient AML operating models and operations.
By delivering our services we increase the effectiveness and accelerate your regulatory programs with our operational and technological expertise build up over years of experience in the field. We bring together our unique combination of capabilities and technologies to deliver sustained outcomes that make a difference.
PwC provides a vast range of Managed Services, addressing all regulatory requirements by leveraging the best of our industry knowledge, technology expertise and operational experience. We deliver complex services, from transformation support, through state-of-the-art technology solutions, to highly automated, efficient operational deliver.
PwC is researching and creating insights on Financial Crime to support our clients’ organizations to assess risks related to Financial Crime. These insights provide our clients' organizations insights how to strategically improve their organization and to remain alert.
Complex, holistic structure combining all fundamental components for Managed Services design and delivery, including pricing model, KPIs, implementation approach, contracting, service strategy, etc..
Dedicated operational methodologies, including team structure, recruitment, testing, ect., verified on our own operational Financial Crime delivery centers globally.
Proven methodologies in specific financial crime areas, like Know Your Customer (KYC), Transaction Monitoring (TM), Client Activity Monitoring (CAM), Ongoing Due Diligence (ODD), Client Filtering (CF)
Highly automated, modular platform - Digital Managed Services, supporting management and delivery of a wide range of operational processes, including mass litigation, KYC, TM, Project Management Office (PMO), contact reviews, etc.
We provide you with flexible and scalable solutions that can be deployed quickly to meet your burst capacity or business as usual requirements. We can help you plan and respond to the changing resource demand driven by the strategy or the peaks and through the nature of the work
Across our people, process and technology, we provide effective solutions that address your needs in a cost efficient manner, allowing your team to focus on board priorities and opportunities.
We can manage everything from one place. You will not need multiple contractors for different parts of the project. Our processes are ISO-certified, and developed with our industry-leading expertise. Your project is mapped out and managed for consistent results, high quality, and to keep things on track to make sure we help you deliver.
When we hear “GDPR” we usually think of our social media privacy (need to check the settings), but what about our financial data privacy with our accounts at banking and other financial business partners?
While much of the public appears to understand their rights under the General Data Protection Regulation (“GDPR”) with regards to their social media presence (partly due to scandals in the past) there is more bubbling under the surface with regards to individual rights under GDPR and their relationship with the financial services industry. There is a global regulatory trend towards transparency obligations of the financial services industry to counter tax evasion and money laundering. However, GDPR and the increased public demand for privacy goes opposite to this trend. This paper sets out to explore where the individual rights under GDPR may at times conflict with the regulatory requirements imposed on the financial services industry.