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Financial Crime Detection Methods in Switzerland: A Holistic Approach to Compliance
As financial institutions operate in an increasingly complex and interconnected world, they are faced with a growing array of risks that threaten their reputation, regulatory compliance, and bottom line. The rise of sophisticated criminal activity, both inside and outside the institution, demands a proactive and multi-faceted approach to financial crime detection.
A Proactive Approach
Deloitte’s Financial Crime & Forensic Analytics team in Switzerland offers expert-led and technology-driven solutions to help clients combat financial crime and achieve regulatory compliance. Our global network enables us to combine an understanding of local business cultures and regulatory issues with cutting-edge technology and advanced data analytics techniques, providing innovative solutions to complex problems.
Understanding the Unique Challenges
With a deep understanding of the unique challenges faced by financial institutions in Switzerland, our team is equipped to provide strategic guidance on how to maintain effective operational culture within the first and second lines of defence. We help clients identify and mitigate risk exposure through business and margin pressure, as well as navigate data management complexities arising from exhaustive screening requirements.
Our Financial Crime Strategy
Our approach includes:
- Assessment of current state and gap analysis against regulatory requirements
- Financial crime prevention strategy support
- Due diligence and remediation
- Lookbacks and continual improvements
Methodology-Driven and Technology-Supported
Our approach is methodology-driven and technology-supported, with a team of interdisciplinary experts who combine leading-edge investigation tools, techniques, and reporting templates to deliver successful outcomes.
Recent Case Study: Swiss Client Faced with Regulatory Requirements
A major Swiss financial institution was required by regulatory authorities to reclassify and repaper customer accounts with exposure to the shipping industry. Deloitte’s Financial Crime & Forensic Analytics team in Switzerland established remediation teams in Switzerland, the Bahamas, and Singapore to prioritize efforts and conduct gap analysis and transaction reviews.
Outcome for the Client
The outcome for the client included:
- Globally-aligned KYC standards
- Repapered accounts
- Increased awareness of KYC and AML measures among front office staff
- Structured approach established enabled future clean-up exercises
Contact Our Experts
For more information on how Deloitte’s Financial Crime & Forensic Analytics team in Switzerland can help you navigate the complexities of financial crime detection, please contact one of our experts: