PRACTICE OVERVIEW

VAN LEEUWEN LAW FIRM – SERIOUS FRAUD INVESTIGATION & PROSECUTION DEFENCE advises clients on all aspects of Financial Crime (FC). Financial Crime (FC) is becoming increasingly more technologically sophisticated as criminals develop new ways of committing their crimes. In addition, emerging technologies have enormous potentially in deterring criminal efforts. The combination of these two themes means that Financial services organizations (e.g. banks, investment banks, insurance companies, credit card companies and stock brokerages) must look at technology-enabled solutions to enhance their financial crime prevention, detection and investigation activities by reducing cost, improving efficiency and delivering stronger and more streamlined regulatory compliance. 

What is Financial Crime Risk?

Of the many vulnerabilities and threats to the financial services sector, financial crime risk has emerged as a pervasive, yet widely misunderstood category of risk. As consumers, governments, and the financial industry have gained familiarity with various forms of financial crime, financial services organizations (e.g. banks, investment banks, insurance companies, credit card companies and stock brokerages) have seen that the underlying risk of financial crimes not only includes the direct action taken by criminals (and fraud perpetrators), but also includes the impact of deterrence, detection, and resolution on the organization and its customers. A financial crime is a regulatory, reputational,…

READ MORE

Dealing with a Growing and Public Problem

Financial services organizations (e.g. banks, investment banks, insurance companies, credit card companies and stock brokerages) have the difficult task of effectively identifying the greatest risks to themselves and to their customers, protecting both parties against unnecessary risks and satisfying regulatory requirements for greater transparency, awareness, and consolidation of information across the organization. For many such organizations, this challenge is compounded by a stagnant or even shrinking budget allocation, making these tasks even more daunting. Financial services organizations (e.g. banks, investment banks, insurance companies, credit card companies and stock brokerages) are increasingly realizing that they must move beyond the traditional reactive…

READ MORE

Financial Crime Risk Prevention

The initial phase in the lifecycle of financial crime risk deals with threats that have not yet affected the institution; this can be thought of as the programs and activities to halt any suspicious or non-compliant activities before they become an issue. For financial services organizations (e.g. banks, investment banks, insurance companies, credit card companies and stock brokerages), many of these activities require a great deal of resources and insight into customers that may not be available or easy to aggregate. These examples highlight the complexity of prevention and associated risks: (a) Stopping suspicious persons from opening accounts or moving…

READ MORE

Financial Crime Risk Detection

The next phase in the financial crime risk lifecycle involves identifying and responding to threats that are active or ongoing. Effectively handling these types of risks requires both accuracy and speed, as a few seconds mean the difference between stopping a criminal act or suffering the effects of a financial or data loss, compliance violation, or major customer disruption. Financial services organizations (e.g. banks, investment banks, insurance companies, credit card companies and stock brokerages) have acquired and built a myriad of systems and sensors to monitor for specific events and types of behavior; however, the many technologies lack the wider…

READ MORE

Financial Crime Risk Investigations

The last phase of financial crime risk is often the most overlooked, but it underpins the entire financial crime risk lifecycle. While prevention and detection each deal with types of risks, investigation encompasses how those risks are handled and resolved once they have been identified. Intuitively, the necessity of this step in the overall lifecycle makes sense; however, the often unnoticed aspect is how essential the manner in which issues are discovered and decisioned affects the institution in terms of both risk and cost. Highlighting how different effective resolution and investigation of risks can be from traditional, often human-driven analysis…

READ MORE

Strategic Approach to Financial Crime Risk Management

Financial services organizations (e.g. banks, investment banks, insurance companies, credit card companies and stock brokerages) should look beyond end-point solutions and investment in individual functional areas and instead build an effective and comprehensive Financial Crime Risk Management (FCRM) program that espouses the following characteristics: Holistic: Gaining transparency and a greater view of risk by connecting data and systems across disparate groups, channels, and silos is essential to identifying potential risks and ongoing threats to the institution. Shrinking such gaps directly translates into reduced risk to your organization and customers and in time will deter criminals looking for easy targets. End-To-End:…

READ MORE
 

RELATED EXPERTISES WITHIN THIS PRACTICE AREA

Fraud risk management

Legislation, regulatory imperatives and proposed new guidance for businesses all mean that it is no longer adequate for firms to simply deal with fraud as it arises. It therefore becomes necessary to have an effective fraud risk management strategy in place and have relevant systems and controls within the context…

READ MORE
 

Whistleblowing service

An important aspect to encourage accountability and transparency within a private or public entity is a mechanism to enable all individuals to voice concerns internally in a responsible and effective manner when they discover information which they believe shows serious malpractice. A number of clients have implemented VAN LEEUWEN LAW…

READ MORE
 

Anti-bribery and corruption consulting

The number of enforcement actions, the number of jurisdictions within which enforcement actions have been brought and the size and nature of fines and penalties arising from anti-corruption legislations, have all increased significantly over the last few years. With far reaching legislations like the U.S. Foreign Corrupt Practices Act (FCPA),…

READ MORE
 

Business intelligence services

Investors have seen increasing opportunities to achieve growth through acquisition or investment deals in jurisdictions around the world, particularly in emerging markets. While these opportunities can be extremely lucrative, they can also result in clients entering into business relationships and new markets, which give rise to potential legal and commercial…

READ MORE
 

Corporate fraud investigation

The spectre of white collar crime can place a significant drain on any business. When such issues arise, it is imperative that they are dealt with quickly and concisely. VAN LEEUWEN LAW FIRM | FORENSIC AUDITING helps you navigate through the regulatory and operational complexities and take timely decisions so…

READ MORE
 

Forensic data analytics

VAN LEEUWEN LAW FIRM | FORENSIC AUDITING’s Data Analytics professionals specialise in the collection, cleansing, enrichment, transformation, analysis and modeling of data for the purpose of investigation. It’s data analysis will identify areas susceptible to high fraud risk, enabling you to focus your efforts in preventing them or dealing with…

READ MORE
 

Computer forensics

It takes special skills, techniques and technology to find, gather and preserve digital evidence. Without rigorous data capture and discovery technique, crucial evidence could be lost in an internal investigation or potential litigation. While cutting-edge technology is certainly important, without the specialist know-how to apply the technology and years of…

READ MORE
Previous Story

Het Bureau Financieel Toezicht en het toezicht op de Forensische Accountant

Next Story

AML monitoring and investigations

Latest from Forensic Audit Services