Financial Crimes - a major issue for all financial services organisations

Aug 2017

PwC is a leader in the ALM Vanguard for Financial Crimes Consulting

The fundamental need for financial crimes consulting is driven by financial services organisations looking to establish programs to comply with regulations around key three areas: know your customers (KYC), transaction monitoring and sanction screening to detect fraudulent activity, and the investigation and reporting of suspicious activity. At present, however, consulting demand is primarily dominated by organisations’ need to respond to and remediate specific compliance deficiencies discovered by regulators or internal auditors, necessitating reactive investigative review, look-backs, and program remediation.

 

The leaders are at the top of the market in terms of their capabilities to create client impact through their depth of expertise and ability to deploy it across a range of engagement models. They are unique in their ability to independently execute end-to-end projects across the full spectrum of client contexts. They range from providers in the top quintile in terms of depth of capability for low-complexity engagement models to those that combine above-average depth of capability, with the ability to deploy it across high-complexity engagement models

The author of the report, Naima Hoque Essing states that PwC was named as “Best in Class” in three out of the nine covered categories, namely Operating System, Project Management, and Enabling Tools.

Here is what Naima had to say about our Operating System capabilities: “PwC combines its Strategy& capabilities with its technical knowledge of global regulation, innovative technology, and data analytics in designing effective financial crime prevention into organisations’ everyday, routine business operations.”

And here is what she had to say about our Project Management capabilities: “Whether responding to an unexpected regulatory action, executing on a large, complex, global risk assessment, or proactively optimizing a compliance program for long-term sustainability, PwC’s Financial Crime Unit seamlessly brings the appropriate combination of expertise and resources to guide clients toward a successful outcome.”

Lastly, here is what she had to say about our Enabling Tools capabilities: “PwC delivers innovative solutions that bring strategy, data analytics and technology together to change the status quo and push the industry and its clients forward in meeting the next generation expectations in financial crimes compliance.”

Sean Joyce, PwC’s Financial Crime Unit Leader said:

"We could not be prouder of this recognition of our team's hard work.  PwC has built the industry's leading Financial Crime practice and anti-money laundering capabilities not only by growing and acquiring leading talent, but also by investing in our professionals' ideas and innovation.  Preventing and detecting financial crime is important work, and we are honoured to serve our clients in government and industry."

*ALM Intelligence, formerly Kennedy Consulting Research & Advisory.
 

Notes:

  1. For more information about how PwC can help you, visit http://www.pwccn.com/en/services/consulting/forensic-services/financial-crime-examinations.html
  2. To find out more about how PwC has been evaluated by leading business, technology and industry analysts visit www.pwc.com/analystviews
  3. At PwC, our purpose is to build trust in society and solve important problems. We’re a network of firms in 157 countries with more than 223,000 people who are committed to delivering quality in assurance, advisory and tax services. Find out more and tell us what matters to you by visiting us at http://www.pwccn.com/en.html

 

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Julia In
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