Financial Crime

Financial Crime is an increasing concern for all financial institutions, from the Tier 1 banks to the smallest and newest firms. Preventing and detecting Financial Crime is one of the biggest challenges facing organisations, the impact of which extends well beyond monetary losses, to reputation and brand, business relations, as well as regulatory sanctions. MHC collaborates with its clients to provide innovative and proactive solutions for combating Financial Crime risks, addressing incidents, remediating identified deficiencies, and optimising transaction monitoring systems.

While financial crime has existed since currency was first exchanged for goods and services, technology advancement has radically changed the landscape, ease of access and scale of opportunity for cybercriminals. Almost all organisations are doing business in the digital world, making them easy targets for cybercrime.

Criminals are adopting ever-more sophisticated tools to gain access to personal and financial data. Compounding the threat, financial crimes can emanate from within, perpetrated by corporate insiders who have an intimate knowledge of the data and an organisation’s controls, enabling them to more effectively cover their tracks.

The exponential increase in the occurrence of financial crimes has led to increased regulatory oversight and government legislation, placing the onus on businesses to protect themselves from both external and internal threats and ensure that they’re compliant with regulatory laws. If businesses fail to take the necessary steps to combat financial crime, they could face substantial fines and operating sanctions. Consequently, an effective financial crime risk management framework has never been more important.

MHC is ready to collaborate with clients to discuss your financial crime risk management concerns, and work with you to deliver practical value-added solutions.

Key focus areas:

Financial Crime Regulatory Health Check
Money Laundering
KYC Onboarding
Transaction Monitoring
Sanctions Screening
Periodic KYC Reviews
Cyber Crime

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