Financial Crime Unit

Various Anti Money Laundering (AML) regulations require financial institutions to undertake customer due diligence measures, including identifying and verifying the identity of their customers.

The range of measures depends on the clients’ risk assessment in regards to the likelihood of money laundering and terrorist financing.

We offer support in design and implementation of suitable end-to-end KYC operating models, development and optimisation of KYC processes and procedures, as well as review, support in selection and implementation of IT solutions dedicated to KYC processes.

We can also provide operational support for your KYC Business as Usual processes or design and deliver remediation of deficient KYC files through our Centre of Excellence.  

We are also supporting financial institutions in the review of KYC functions from the compliance perspective. This includes independent review of group and local policies and procedures against regulatory requirements.

Due to increasing regulatory pressure, effective Transaction Monitoring processes have become a priority for global financial institutions.

These efforts focus mainly on the identification of money laundering, terrorism financing, fraudulent activities, attempts to circumvent sanctions as well as national and reporting requirements.

In order to comply with regulatory demands, to identify suspicious or illicit activity, that must be reported to regulatory authorities in various jurisdictions, financial institutions have to implement complex solutions, involving: appropriate policies, procedures, and processes, as well as compiling ongoing comprehensive risk assessments.

Based on our extensive global experience in this field, PwC can share its expertise in Transaction Monitoring, whether in retail, corporate, private, investment or correspondent banking. We can provide advisory services, such as process reviews, efficiency analysis and optimization of Transaction Monitoring operating models, as well as operational support in Business As Usual (BAU) and Remediation delivery.

Our global Financial Crime team of qualified experts, experienced in the field of Transaction Monitoring has not only the most up-to-date knowledge and internationally acknowledged professional qualifications, but also hands-on experience from cooperation with the largest global financial institutions.

We have experience in providing Transaction Monitoring services across different jurisdictions. Thanks to this unique combination PwC can support Transaction Monitoring processes at any particular stage or from end to end - we have experience in setting up target operating models to carrying out on-going operational work, in the most comprehensive way.

Our services can be provided anywhere on the globe at the client premises, as well as dedicated PwC Sites.

Under both regulations, FATCA and CRS, Financial Institutions are required to assign FATCA/CRS statuses to all accountholders; further, based on these classifications, financial institutions must report specific financial information regarding their customers’ accounts to relevant tax authorities in other countries - participants of the FATCA/CRS system (directly or via tax authorities in the country where the financial institution operates).

Our team of advisors from the department of tax and business consulting offer end-to-end support in implementing FATCA/CRS regulations including complex remediation programme delivery at the client premises and/ or in dedicated PwC’s Centre of Excellence.

We use our expertize in AML regulations in providing flexible support for AML Functions in Compliance departments.

This includes wide range of services, i.a.: 

• Building commercial business cases for new operating models, 
• AML Compliance transformation from business and technology perspective, 
• Impact analyses of new trend adoption (e.g. crypto currencies, block chain), 
• Compliance culture, 
• Adoption of Financial Institution risk appetite in view of required processes and procedures.

We also support our clients in addressing the latest regulatory requirements relevant for AML teams.

In accordance with the latest national and international requirements, Financial Institutions must comply with various sanctions regimes.

PwC offers support in the following areas:

• Design and implementation of sanctions screening processes
• Operational support of payments screening and filtering processes through our Centre of Excellence
• Policies and Procedures creation and reviews
  
• Subject Matter Experts support in sanctions related audits and independent controls activities

The financial services industry continues to face significant scrutiny from global regulators over Anti-Money Laundering (AML) processes, systems and controls.

The result is a substantial increase in compliance and operational costs. Consolidating specific non-competitive processes into a shared Utility that performs due diligence on behalf of multiple institutions can generate significant efficiencies and enhance the quality of customer due diligence performance.

PwC can bring value to the industry by creating streamlined KYC onboarding solutions and be at the forefront of the development of KYC Utility capabilities. Our regulatory, technical, process expertise and insight allow us to support Financial Institutions and their clients throughout the Utility integration lifecycle. 

Technological innovation is now re-shaping the way financial institution manage their anti-financial crime processes.

We have a dedicated team developing and implementing fit for purpose innovative solutions that support efficient delivery of regulatory projects.

Anti-Crime (ac) Team offers following products:

• Anti-Crime Orchestrator - Workflow solutions dedicated to specific regulatory related projects
• Anti-Crime Searcher - RPA solutions to support documentation and information gathering
• Anti-Crime Investigator - Investigation tool designed as framework to optimise KYC/TM processes
• Anti-Crime Checker - Tools which are supporting Quality management framework
• Anti-Crime Expert - A.I. based solution supporting adverse media review and analysis
• Anti-Crime Reporter - Reporting framework design and implementation

PMO-as-a-Service is an offering with structured approach to provide comprehensive solutions in project management.

FCU PMO provides tailored solution aligned to project expectations guaranteeing flexible and fast delivery of project support.

We offer PMO comprehensive service catalogue that contains solutions dedicated to PMO Project Support and Project Management. Our services are designed to be delivered on-site or in near-/off-shore model.

PMO team supports achieving tangible, repeatable, long-term benefits to business and enables sharing of resources, methodologies, tools and techniques for project success across the enterprise.

Our strong team consists of professionals with robust knowledge of globally recognized best practices in the field of Project Management and hands-on experience in Programme-, Project-, PMO roles and change management on all levels.

We utilize our extensive experience, methodology and relevant technology to support our consulting expertise.