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The challenge

While financial institutions have to comply with regulatory and audit requirements, they are also permanently affected by additional factors. Some key examples of these are:

  • Cost pressure
  • Negative press
  • Adapting of business models
  • Mergers & acquisitions
  • Strategic realignments
  • Audit findings
  • Supervisory expectations
  • Penalties
  • New trends/typologies

The challenges require these influencing factors - and the resulting risks - to be considered comprehensively and permanently.

Current efforts to establish high-performance and sustainable AFC organisations require stringent and productive approaches that are implemented specifically according to the individual financial institution.

Our service

KPMG Anti-Financial Crime offers individual solutions for the adjustment of internal standards or the processing of procedures by means of managed services. These are cost-sensitive services offered by teams led by our experts.

We can therefore support you in subject areas with a high volume of cases, helping you to comply with your due diligence and reporting obligations and identify money laundering and reputational risks.

  • Identification and verification of contractual partners, know-your-customer, risk classification of customers and identification of beneficial owners.
    • We do this by carrying out precise identification checks, evaluations of complex ownership and control structures as well as background research on companies and individuals.
  • Processing of internal suspicious cases according to the German Anti-Money Laundering Act. 
    • In order to ensure that suspicious activity reports are forwarded to the competent authority without delay, we support you in processing case backlogs (among other things). 
  • Processing of hits in transaction monitoring.
    • For this purpose, a check against your "red flags" is carried out at transaction level. We assess your transactions for plausibility by checking thoroughly for any suspicion of money laundering or terrorist financing. 
  • Correspondent bank monitoring.
    • We check your correspondent bank relationships for risk content and recommend risk mitigating measures.
  • List screening for e.g. sanctions, embargo, PEP or negative media hits.
    • We do this by analysing the hits from your list-matching with regard to hit probability. At the same time, the hits are forwarded to the specialist departments after verification.

In addition, we can provide competent consultancy services in the following AFC-related areas:

  • Individual advice to management and supervisory bodies, compliance offices and commissioned business units.
  • Implementation of new regulatory requirements.
  • Identification and elimination of system, control and process weaknesses.
  • Review of guidelines and processes for effectiveness and efficiency of approaches.
  • Optimisation of the operational and organisational structure.
  • Development of target operating models.
  • Support in establishing new units.
  • Review and adaptation of risk and threat analyses.
  • Preparation and implementation of money laundering training concepts.
  • Ad hoc analysis of customer portfolios on hot topics (e.g. Panama/Paradise Papers).
  • Support in the introduction of uniform group-wide standards.

Your added value

  • Prevention of violations to avoid liability for corporate bodies
  • Protection of your financial institution, your staff and your clients against risks in connection with AFC issues
  • Minimising the risk of sanctions such as significant fines, disbarment, personal liability
  • Achieving a balance between costs and risks
  • Minimising audit findings and (financial) risks
  • Reduction of redundancies
  • Effective and efficient processes
  • Elimination of weaknesses and deficiencies
  • Increase awareness of AFC-specific risks
  • Prevention and reduction of backlogs in AFC subject areas

Best positioned for you

We specialise in providing advice and support on all AFC matters. A broad range of interdisciplinary expertise and experience gained through projects in financial institutions with different business approaches are what set us apart. This enables us to work with you to develop future-oriented solutions that are tailored to your business models and needs. 

As a client, you benefit from KPMG's entire industry know-how.