Financial Crime Prevention Training Programs in Switzerland on the Rise Amid Increased Regulatory Scrutiny

Swiss financial institutions are facing growing pressure to implement effective Financial Crime Prevention (FCP) strategies as regulatory bodies step up enforcement and scrutiny. Deloitte’s Financial Crime & Forensic Analytics team provides expert-led and technology-driven solutions to help clients navigate this complex landscape.

The Swiss Market Under Growing Regulatory Pressure

The Swiss market is increasingly subject to global regulatory requirements, making it essential for financial institutions to have a robust FCP framework in place. Deloitte’s team of interdisciplinary experts combines industry experience, subject matter expertise, and leading-edge technology to offer innovative solutions to clients’ regulatory and Financial Crime problems.

Key Challenges Faced by Financial Institutions

Increased Regulatory Scrutiny and Enforcement Actions: Financial institutions face mounting pressure from regulatory bodies to implement effective FCP strategies.
Growing Complexity of Data Management: Managing and sourcing data for exhaustive screening has become increasingly complex.
Maintaining Effective Operational Culture: Ensuring an effective operational culture within the first and second lines of defence is crucial.
Risk Exposure Due to Business Pressure: Risk exposure due to business and margin pressure leading to increased activity in risk countries, risky clients, and risky products.

Deloitte’s Network: A Global Response to Regulatory Challenges

With a network spanning nearly all jurisdictions, Deloitte can provide highly experienced professionals for an immediate global response to regulatory challenges. The team’s proven methodologies for review, remediation, and investigation of Financial Crime-driven topics ensure that clients receive expert advice and support.

Secure Data Centres in Switzerland

Deloitte’s secure data centres in Switzerland are available to host sensitive data relating to any investigation or project. These facilities have high perimeter fencing, CCTV monitoring, alarms, and ISO 27001 certification, ensuring the highest level of security and confidentiality.

Financial Crime Strategy and Advisory Services

Assessment of Current State and Gap Analysis: Identify gaps in current FCP strategies against regulatory requirements.
Financial Crime Prevention Strategy Development: Develop comprehensive FCP strategies tailored to clients’ specific needs.
Due Diligence and Remediation: Conduct thorough due diligence and remediation services for clients.
Lookbacks and Continual Improvements: Regularly review and improve existing FCP strategies.
Market Behaviour Misconduct Investigations: Investigate cases of market behaviour misconduct.

A Methodology-Driven Approach to Financial Crime Advisory

Deloitte’s approach to Financial Crime advisory is based on a proven end-to-end delivery platform that supports clients in successfully responding to a wide range of financial crime matters. The team uses leading-edge investigation tools, techniques, and reporting templates tailored to each client’s specific needs.

Real-World Example: Helping Clients Navigate Complex Regulatory Requirements

Deloitte recently helped a client reclassify and repaper its customer accounts with exposure to the shipping industry following a regulatory policy amendment. The team established remediation teams in Switzerland, the Bahamas, and Singapore to prioritize efforts and carry out gap analysis and transaction reviews.

The outcome for the client included globally-aligned KYC standards, repapered accounts, and greater awareness of KYC and AML measures among Front Office staff, as well as a structured approach for performing clean-up exercises in the future.

Contact Deloitte’s Experts

If you have similar issues that need addressing, contact one of Deloitte’s experts below:

Sven Probst: Lead Partner Forensic
Nic Carrington: Partner
Philipp Lüttmann: Partner and Head of Swiss Sports Business Group
Uday Mehta: Partner leading the Financial Crime and Forensic Analytics team in Zurich, Switzerland