What is it?
Financial crimes management consulting is a subset of regulatory compliance consulting and relates to efforts in meeting specific regulations designed to combat money laundering and sanctions violations, although many firms are broadening their financial crimes practices to also encompass fraud, bribery, corruption, and even cybersecurity. Financial crimes consulting came into its own over the past fifteen years as rising geopolitical events and terrorism prompted governments to crack down on the responsible perpetrators by shutting down their sources and means of funding. Through enforcement by various agencies, Governments have enlisted financial institutions, in their role as financial intermediaries, to identify and report financial crime and assure industry adherence through the use of high profile enforcement actions with large penalties for non-compliance.
