How Economic Uncertainty Fuels Financial Crime Economic uncertainty affects everyone. But did you know it’s also a breeding ground for financial crime? Inflation, market instability, and low growth create opportunities for bad actors and increase risks across sectors. Recent bond market volatility caused by the UK Chancellor’s budget has shown just how quickly uncertainty can […]
Challenges in Combating Financial Crime The fight against financial crime is becoming harder every day. Firms in Financial Services, Professional Services, Telecoms, and Healthcare, amongst others, face many challenges. Bad actors use more innovative methods to hide their crimes. For example, they may use fake identities or blockchain to hide money. Criminals take advantage of […]
A recent report from the Solicitors Regulation Authority (SRA) highlighted ongoing challenges in anti-money laundering (AML) compliance, with only 22% of firms fully meeting requirements. Argus Pro’s FinCrime PM&E Framework™ provides an effective solution to identify and address key areas of concern. Here’s how it can help: 1 Conduct Comprehensive Firm-Wide Risk AssessmentsThe SRA found […]
The Growing Role of Cryptocurrencies and UK Banks’ Challenges Cryptocurrencies have swiftly reshaped the global financial landscape, offering fast, decentralised transactions and borderless operations. However, the features that make them appealing also attract financial criminals, posing unique challenges for UK banks. UK banks must ensure robust anti-money laundering (AML) and counter-terrorism financing (CTF) compliance while […]
Regulations and Expectations in the UK The UK’s Financial Conduct Authority (FCA) strongly emphasises accountability and robust systems. These expectations fall under the Senior Managers and Certification Regime (SMCR). Firms must monitor suspicious activities, maintain high data quality, and ensure ongoing analysis. The FCA promotes a risk-based approach, requiring firms to align with the Money […]
Process Maturity Assessments Enhance Business Performance The way you manage and understand operational capabilities shapes your organisation’s performance. A maturity assessment framework gives you a well-laid-out way to review and boost business processes. This helps you spot areas needing improvement and create clear growth paths. You can measure current performance against industry standards and best […]
Financial crime is a growing global issue. Industries such as banking, asset management, insurance, real estate, and law must stay ahead of these risks. Compliance leaders must protect their companies from money laundering, fraud, bribery, and tax evasion and manage regulatory sanctions. Argus Pro LLP has developed The FinCrime PM&E Framework™ to help organisations assess the […]
Introduction to Money Laundering Money laundering hides and legitimises criminal profits, making it a significant threat to global financial stability. This criminal activity undermines financial integrity and enables other illegal enterprises, such as drug trafficking and terrorism. To tackle money laundering, a comprehensive understanding is crucial, as this knowledge strengthens the defences of financial systems […]
Introduction to Financial Crime In today’s intricate financial landscape, the threat of fincrime looms large, posing severe risks to businesses and individuals alike. This insidious phenomenon encompasses various illicit activities, from money laundering and fraud to bribery and corruption. As the global economy becomes increasingly interconnected, the potential for financial crime to wreak havoc on […]
Over the last decade, many organisations have faced high-profile cases of non-compliance with financial regulations, resulting in significant fines and damaged reputations. Despite the increasing number of regulations and guidelines, compliance failures continue to occur. The solution isn’t more regulation. Instead, we must foster a culture where compliance is integral and celebrated, not just an […]
