Establishment of an Anti Financial Crime and Governance, Risk and Compliance System

For a major international bank, we implemented a multi-level system for evaluating and analyzing existing banking structures in order to subsequently establish an anti-fraud management system. The analysis initially included the identification and assessment of inherent fraud risks regarding the probability of occurrence and the amount of damage. From this, the risk tolerance was determined and based on this, a review of the suitability of the control mechanisms was carried out. We then prioritized the residual fraud risks and documented the risk profile.

This formed the basis for the derivation and establishment of standards and methods for fraud prevention within the framework of an AFMS guideline. In this guideline, we coordinated stakeholders and their requirements from compliance, law, risk management, business and IT. The customer can now better control his fraud risks because the risks have been identified and standards and methods for risk prevention have been established.