Financial Crime Services

Your first line of defence

At First Derivative we understand the many impacts financial crime can have on our clients, including reputational damage, loss of revenue and regulatory censure. The services we offer are designed to prevent or reduce these impacts, protect our clients and increase their confidence in meeting regulatory requirements.

We do this through:

Implementation of Strong Internal Controls
Setting up robust procedures and systems within an organization to detect and prevent fraudulent activities, ensuring financial integrity, and compliance with regulations.
Provision of Financial Crime Prevention Training and Education
Offering comprehensive training programs to educate employees about recognising and preventing financial crimes, understanding relevant laws and regulations, and knowing how to respond to potential threats.
Implementation of strong AML (Anti-Money Laundering) and KYC (Know Your Customer) Policies and Procedures
Establishing stringent AML/KYC policies and procedures to prevent and detect any illicit activity. Outlining Identification and Verification requirements, what an adequate risk assessment should look like and how ongoing monitoring is vital to ensure any potential risks and vulnerabilities are mitigated.
Development and Maintenance of a Strong Compliance Culture
Fostering a corporate culture that prioritises compliance with laws and regulations, encouraging ethical behaviour, and ensuring adherence to internal and external regulatory requirements.

These solutions collectively help First Derivative’s clients in safeguarding their operations against financial crimes, maintaining regulatory compliance, as well as protecting their reputation and financial stability.

Vendor Selection

First Derivative’s consultants can support you on your journey of choosing the most appropriate provider/partner for your Financial Crime needs. Our SMEs have delivered financial crime transformation programmes across a global portfolio and bring with them extensive industry knowledge, user expertise and a solutions based mindset.

We can work with you to ensure the vendor selected meets the needs of you and your team bringing operational efficiency and robust solutions.

SME Support for Vendor Implementation

At First Derivative, our SMEs can support with seamless vendor implementation for your business. We can ensure there is a robust implementation plan in place that is continuously monitored and enhanced as appropriate throughout the implementation to avoid pitfalls across project initiation, design, execution and closure.

KYC (Know Your Client)

Through the deployment of highly skilled KYC consultants with a wealth of knowledge on regulatory requirements and leading industry practices, we ensure KYC records are updated and maintained in line with all applicable regulations; this involves the undertaking of key projects that make up the KYC process – Customer on-boarding | Remediation | Customer Outreach

Transaction Monitoring and Screening

At First Derivative, our employees leverage extensive experience and market-leading tools to review transactions and conduct Sanctions, Adverse Media, and PEP Screening. This ensures alignment with client processes and regulatory compliance. Any red flags are appropriately addressed and any financial crime risks are mitigated.

AML Framework Review

At First Derivative, we recognise the importance of complying with local and international financial crime regulations. We provide support in creating comprehensive AML frameworks for firms or conducting gap analyses of existing frameworks against regulatory requirements and market standards.

Operational Review & Design

At First Derivative we believe a clear & concise operating model, setting out all roles and responsibilities, is key to a strong and successful Financial Crime Department. Our expertise ensures all operational challenges are well calibrated and robust with a design framework in place that boosts the fluidity of client experience, as well as the adequacy & effectiveness of your AML policies, controls and procedures.