Financial Crime Compliance (FCC) Consultancy

Having an effective procedure for financial crime compliance is not only a legal requirement but an essential business practice. At FCRMP, we ensure robust organizations’ financial protocols to limit the damaging effects of criminal activity and protect the business’ economic well-being, reputation, customers, partners, and employees.

The losses generated from financial crime are very alarming in Nigeria. There are numerous forms of financial crime; many are complex and well-hidden, making it difficult for businesses to pinpoint the exact problem resulting in several losses. The amount lost in money laundering alone is over $600 million annually, and that’s one aspect of the problem. Some other forms of financial crime include:

  • Cybercrime
  • Bribery
  • Corruption
  • Securities and commodities fraud
  • Bank fraud
  • Mortgage fraud
  • Insurance fraud
  • Embezzlement
  • Credit fraud and more.

We help our clients understand their organization’s threats and create countermeasures fundamental to modern business success.

What is Financial Crime Compliance

Financial crime compliance is the strategies and tactics deployed by organizations to help them detect, prevent, and report illegal financial activities. 

Businesses nowadays rely on numerous laws and regulations by the government that might apply depending on the jurisdiction and industry. At FCRMP, we help businesses understand the applicable sectoral requirements and their necessities; we enlighten our clients on the varieties of financial crimes, their required targeted policies, and processes for obligations such as:

  •  Anti-Money Laundering (AML): We help ensure illegal funds don’t enter the legitimate financial system.
  • Know your Customer (KYC): We help verify the identity of customers to ensure they’re legitimate and perform due diligence to determine the risk they pose.
  • Watchlist Screening: We monitor and screen clients against applicable sanction lists.
  • Preventing Payment Fraud: We provide a holistic anti-fraud system that is robust, can quickly adapt and delivers security protection with minimal customer friction.
  • Deterring Cybercrime: We specialise in defensive measures to protect the integrity of systems and data.

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