The transposition of the fourth European Money Laundering Directive into UK Law coupled with the introduction of the Criminal Finances Act 2017, suggests that preventing financial crime and related offences must remain a priority issue for regulated firms.
The FCA has been explicit in its intention to focus on financial crime and anti-money laundering practices. Firms will be expected to have effective systems and controls in place to mitigate financial crime risk. The negative impact of financial crime on the FCA’s core objectives makes it more likely that the regulator will use its powers of supervision and enforcement to bring about effective change. This includes powers under the Senior Managers Regime to ensure that senior executives demonstrate appropriate governance and accountability.
RFS has a specialist team that supports organisations to put in place effective policies, procedures, systems and controls. In addition, RFS has the capability to assist or lead on internal investigations, trace assets and implement remedial programmes.
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Core areas of expertise