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Here at Pro-Active Analysis, we have over 15 years’ experience spanning a broad range of activities within the fields of Regulatory and Financial Crime Compliance. While much of our experience lies in the corporate world within Banking and Asset Management, we also have experience outside of this field working with smaller consumer focused businesses.
We specialise in helping small and large firms understand the world of intelligence and how this can be used to manage their exposure to potential economic crime.
A lot of the work we do is based on the National Intelligence Model, (as developed by UK law enforcement). We have also developed an Investigation Lifecycle. No two firms are the same so while this acts as a baseline process, we’ll adapt and tailor the specifics to your firm to make sure that you get the best service possible.
Firms need to undertake an initial assessment and think creatively about their vulnerabilities. It’s essential to analyse and identify potential exposures, and where threats may appear from.
Information and intelligence about relevant threats needs to be gathered. New types of economic crime emerge from time to time and variations of existing typologies are emerging constantly. Information regarding persons or entities of interest is equally important. The gathering of information and intelligence can either be done by a firm itself, through engagement with law enforcement or similar via public-private partnerships, or through engaging with trusted peers.
Firms need to ensure they have detection systems in place to provide the appropriate ongoing monitoring of economic crime threats. All firms need to utilise the information available to them. In very small firms this can be done by checking whether their systems and products are exposed to what they read in the news. In larger firms monitoring technology should be used. Larger firms should also maintain repositories of their own data to allow for ‘big data’ anlaysis. This will enable them to determine exposure to any new or evolving crime typologies, or individuals or entities of interest.
If any searches produce information of interest, these need to be investigated thoroughly. The time it takes to deal with this information can vary, dependent on the depth and outcomes of these investigations.
Firms need to undertake an initial assessment and think creatively about their vulnerabilities. It’s essential to analyse and identify potential exposures, and where threats may appear from.
Information and intelligence about relevant threats needs to be gathered. New types of economic crime emerge from time to time and variations of existing typologies are emerging constantly. Information regarding persons or entities of interest is equally important. The gathering of information and intelligence can either be done by a firm itself, through engagement with law enforcement or similar via public-private partnerships, or through engaging with trusted peers.
Firms need to ensure they have detection systems in place to provide the appropriate ongoing monitoring of economic crime threats. All firms need to utilise the information available to them. In very small firms this can be done by checking whether their systems and products are exposed to what they read in the news. In larger firms monitoring technology should be used. Larger firms should also maintain repositories of their own data to allow for ‘big data’ anlaysis. This will enable them to determine exposure to any new or evolving crime typologies, or individuals or entities of interest.
If any searches produce information of interest, these need to be investigated thoroughly. The time it takes to deal with this information can vary, dependent on the depth and outcomes of these investigations.
Should problems be identified, firms need to take appropriate actions. For smaller firms this may involve distancing themselves from certain customers or suppliers. Sometimes customers may need to be exited. It may involve reviewing customer behaviour, blocking certain transactions, or creating ‘watch lists’. In larger firms if the identified problem(s) indicate gaps in their controls, the effectiveness of these controls needs to be reviewed.
Areas requiring investigation – and the results of those investigations – need to be reported internally to senior management. More serious cases may require reporting to external authorities, or firms may also consider offering up the non-commercial aspects of their findings to trusted peers or to the Intelligence gathering forums they attend.
Most importantly of all, firms need to take the information obtained from these investigations and learn from it. This information can be incredibly useful when undertaking investigations at a later date. Collecting and storing this information can form an important part of the ‘corporate memory’.
Should problems be identified, firms need to take appropriate actions. For smaller firms this may involve distancing themselves from certain customers or suppliers. Sometimes customers may need to be exited. It may involve reviewing customer behaviour, blocking certain transactions, or creating ‘watch lists’. In larger firms if the identified problem(s) indicate gaps in their controls, the effectiveness of these controls needs to be reviewed.
Areas requiring investigation – and the results of those investigations – need to be reported internally to senior management. More serious cases may require reporting to external authorities, or firms may also consider offering up the non-commercial aspects of their findings to trusted peers or to the Intelligence gathering forums they attend.
Most importantly of all, firms need to take the information obtained from these investigations and learn from it. This information can be incredibly useful when undertaking investigations at a later date. Collecting and storing this information can form an important part of the ‘corporate memory’.
To ensure cases are handled consistently we frequently adapt the 5 x 5 x 5 (or 3 x 5 x 2) intelligence assessment models to help firms take the subjectivity out of their case prioritisation.
Recently we developed a scoring matrix for a firm to help their customers with fraud (scam) awareness. By asking the right questions about their personal circumstances, their attitudes to risk and some of their day to day behaviours, we were able to provide each customer with a score or rating regarding their potential exposures to individual frauds and advice as to how to best prevent falling victim to such frauds.
Our client recognised that their customers didn’t know enough about cybercrime or potential scams, despite the fact that millions of people are victims of frauds each year. This tool was developed to help these customers both learn more about their potential vulnerabilities and also to educate themselves in terms of what can be done to help mitigate the risk of being scammed.
If you’d like to know more about our services or think we can help you, get in touch – we’d love to hear from you and are happy to help.
+44 (0) 7712 886 737
info@proactiveanalysis.com
If you’d like to know more about our services or think we can help you, get in touch – we’d love to hear from you and are happy to help.
+44 (0) 7712 886 737
info@proactiveanalysis.com
If you’d like to know more about our services or think we can help you, get in touch – we’d love to hear from you and are happy to help.
+44 (0) 7712 886 737
info@proactiveanalysis.com
If you’d like to know more about our services or think we can help you, get in touch – we’d love to hear from you and are happy to help.
+44 (0) 7712 886 737
info@proactiveanalysis.com