Financial crime Risk


Financial crime

Connect the dots for the full picture

The pressure to tackle financial crime has never been greater both for the corporate and public sector, with tightening regulations, growing demands by customers for integrity and increasing criminal sophistication.

Sanctions compliance continues to impact agendas in financial institutions. With regulatory focus increasing, along with significant fines, the associated reputational damage of non-compliance continues to pose risks. Having an efficient and effective process is a key driver on the path of sanctions compliance.

The regulatory landscape is becoming more intrusive and more complex, including the need for enhanced technological support on screening solutions. The challenge for organisations is the significant volume of customers and transactions combined with new and constantly changing regulations.

We can offer the following services to assist your organisation:

  • Testing the effectiveness and efficiency of screening tools
  • Assessing current processes and technologies used to comply with Sanctions regulations
  • Assisting compliance, operations and internal audit functions following a review from the regulators
  • Designing and implementing processes, frameworks and tools to aid efficiency and optimisation
  • Advising on sanctions technology strategy.


Recent regulatory actions have highlighted the importance of a robust Anti-money laundering (AML) program. Financial institutions play a pivotal role in the detection and prevention of the laundering of the proceeds of crime, yet detection rates are traditionally low. Improving the use of technology through enhanced data quality and optimised transaction monitoring is key.

As a recognised market leader in AML and Foreign Corrupt Practices (FCPA) investigations for global and Australian corporates, Deloitte is able to offer a unique combination of expertise, relevant experience and value through globally proven methodology and tools for assessing and communicating the business impact of AML regulations and laws.

We assist our clients to meet their regulatory obligations when faced with these changes by:

  • Distilling relevant obligations from complex legislation
  • Measuring the effectiveness of existing processes and controls
  • Recycling existing processes and tools to meet new and existing obligations
  • Applying regulatory technology accelerators to achieve efficiencies.
  • We also provide confidence and a clear way forward when our clients are faced with regulatory action.

Anti-money laundering

Prosecutors and regulators across the globe are becoming increasingly active in enforcing anti-corruption legislation. Organisations must therefore focus their efforts on developing and maintaining “fit for purpose” anti-bribery and corruption program, or else risk huge fines and reputational damage.

The anti-corruption specialists at Deloitte have assisted some of the world’s leading companies navigate corruption risk in their offshore operations. We have been engaged by our clients to assist on some of the largest and most complex corruption enforcement actions and to assist in building robust programs to mitigate the risk and better position an organisation to respond if it does happen.

We can offer the following services to assist our clients:

  • Program support by providing subject matter expertise, action planning and risk analysis
  • Risk assessment using highly flexible methodologies catered to our clients business and regulatory guidance
  • Integrity due diligence through our proven methodology for identifying corruption risks
  • Forensic data analytics tools using data mining and interrogation capabilities to highlight potentially problematic transactions quickly and efficiently
  • Forensic investigations reports following a regulatory breach that are responsive to the needs
  • Controls testing by working with our clients to deliver tailored testing programs of bribery prevention controls.

Bribery and corruption

Despite the investments in anti-fraud solutions, industry continues to suffer financial and reputational damage as a result of fraud. There are many guises that fraud can take which can cause substantial loss and reputational damage to organisations. For each type of fraud there are numerous variants and the levels of sophistication differ greatly – professional fraudsters and criminal gangs are continually evolving and devising new ways to obtain funds and evade detection.

In terms of providing forensic investigative services, Deloitte and its member firms are global leaders. We appropriately structure collaborative arrangements with our clients in order to understand the facts and circumstances, mitigate the cost of fraud, recover any misappropriated assets, and limit exposure to non-compliance issues and headline risks.

Our fraud prevention services bring together a breadth of depth of expertise from a number of related competencies:

  • Data management
  • Detection data analytics
  • Investigations
  • Business intelligence
  • Strategy, frameworks and control infrastructure
  • Training to raise awareness of risks facing organisations.


As Australia’s regulators increasingly clamp down on incidents of alleged market conduct, companies should be increasing their monitoring of trading activity by company officers and employees. The result of increased focus means companies should be reviewing and reinforcing their share trading and handling of price-sensitive confidential information policies and control infrastructure to ensure full compliance.

Forensics’ Market conduct advisory services helps clients proactively assess the strength of their compliance programs and control systems and can provide recommendations to assist in the assessment and remediation of regulation breaches. We can also assist in the development of appropriate controls and procedures to manage the handling of price sensitive and confidential information and undertake specialist and targeted investigations where a ‘leak’ of such information has occurred.

Adopting a proactive approach to testing can assist companies to actively prevent circumventions of their compliance programs, and is usually far more cost-effective than a reactive approach. Non-compliance with regulatory requirements (both domestic and international) may result in significant financial loss and reputational risk across jurisdictions in which an organisation operates.

Market conduct

The past decade has seen the rapid evolution of online and mobile channels; carving out new markets and bringing huge opportunities for both emerging and established institutions. However, the interconnected, anonymous and instantaneous nature of these channels has inevitably led to the development of malicious threats targeting organisations, their people and their customers.

eCrime and digital fraud threats are evolving constantly and at a pace, with attackers utilising increasingly sophisticated techniques to target vulnerabilities in people, processes and technologies. As organisations face increasing disruption to payment processes and systems, Deloitte’s forensic experience and expertise can assist organisations on designing, delivering and embedding an integrated and well-rounded response to better prevent, prepare for and respond to attacks.

Our approach focuses on:

  • Strategy
  • Policy and governance
  • Threat and risk management
  • Layered control environment
  • Operations
  • Reporting and metrics.


During May to September 2014, Deloitte held Financial Crime Strategy conferences in Sydney, Melbourne and Brisbane. These were proceeded by conferences held in Singapore, Jakarta and Hong Kong earlier in the year. Delegates were given an overview of the financial crime challenges they face, and the steps needed to successfully deal with those challenges. On the day, delegates listened to presentations and were asked polling questions throughout the day.

The event — chaired by Deloitte Australia’s Lead Financial Crime Partner, Ivan Zasarsky — brought together clients from a range of industries. There were presentations from a number of Deloitte and industry experts on the regulatory environment, industry trends, analytics, technology and strategy. The audience also listened to panel discussions from fraud, and anti-bribery and corruption experts, as well as Deloitte leaders from across Consulting, Risk Services, and Deloitte Analytics.

The panel sessions opened the floor to questions from the audience. This allowed participants to share their views on the main issues they are encountering in financial crime.

Financial crime strategy roadshow

In March 2014, Deloitte held Financial Crime Strategy conferences in Singapore, Jakarta and Hong Kong. This was followed by the first of the Australian events held in Sydney during May 2014. Delegates listened to presentations and were asked polling questions throughout the day before attending interactive ‘breakout’ sessions after lunch.

The breakout sessions were based on the Deloitte Greenhouse client experience - structured sessions which bring participants together in a state of the art space to build consensus and confidence with clear and actionable outcomes, achieving in a matter of hours what might otherwise have taken months.

Delegates spent 15 minutes with four sets of facilitators. Discussion was focused on key financial crime strategy themes – barriers, drivers, risks and analytics. The objective of the sessions was to allow participants to share their view on the main issues they are encountering in financial crime.

Financial crime strategy roadshow

Companies need to safeguard investments, protect their reputation, address sanctions and regulatory enquiries, and keep up with the changes resulting from digital technology. 

Yet current approaches are often a patchwork of fragmented, inefficient and, ultimately, ineffective efforts designed around compliance. We help our clients protect and defend their organisation from financial crime-related incidents that can harm reputation, or, if such instances occur, provide our clients with clear guidance on how to respond.

Deloitte can help assess our client's current approach and work with them to develop an improved financial crime operating model. An integrated approach can help align strategy, people, processes and data, towards a more unified view of risk.

Financial crime service offerings

Three-part series on the benefits of a holistic financial crime strategy with Ivan Zasarsky

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