We highlight some challenging areas within risk and compliance and how FCG can help. Through co-sourcing, companies may delegate certain parts of a function, process, or recurring activity. Your company is able to complement the business with expertise, resources, independence and continuity while retaining overall responsibility and control.
This time about AML/CTF.
As an effect of new and challenging rules, issued sanction decisions and the fact that AML/CTF is now a hot topic in media and society at large – it is certainly a challenge for many to find the right competence within AML/CTF. In small and medium sized companies, it may not always be cost efficient to hire such a narrow specialist.
At the same time – the rules on measures against money laundering and terrorist financing have been strengthened, the responsibilities of the Money Laundering Reporting Officer (Sw. Centralt funktionsansvarig) has broadened, the requirements of independence and suitability has been highlighted and the pressure has increased from the organization, management, board and the authorities.
FCG offer companies to co-source the AML/CTF responsibilities through an arrangement where you delegate parts of the MLRO’s responsibilities to us. Through co-sourcing, the company can maintain control of the function while at the same time strengthening its independence, ensuring continuity, increased accessibility and both deeper and wider competence.