Financial Crime World

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Financial Crime Investigation in Switzerland: A Growing Concern for Financial Institutions

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Financial institutions operating in Switzerland are facing increased regulatory scrutiny and enforcement, making financial crime a growing concern. In response, Deloitte has established a specialized task force to help clients combat financial crime effectively.

The Deloitte team combines regulatory and investigative skills with leading-edge technology and advanced data analytics techniques to offer innovative solutions to clients’ regulatory and financial crime problems. With a global network that understands local business cultures and regulatory issues, the team can navigate clients through complex investigations and provide a successful resolution.

Growing Criminal Sophistication

The Financial Services industry is facing unprecedented levels of criminal sophistication, both internally and externally. This has led to an increase in risk exposure due to business and margin pressure, resulting in increased activity in high-risk countries, clients, and products.

Data Management Challenges

As data management becomes increasingly complicated, Deloitte’s experts can help clients determine impact and exposure for any financial crime event. With secure data centers in Switzerland, the team can host sensitive data relating to any investigation or project.

Financial Crime Strategy

Deloitte’s Financial Crime strategy includes:

  • Assessment of current state and gap analysis against regulatory requirements
  • Design of a comprehensive prevention strategy
  • Support in policy and procedure re-design
  • Due diligence and remediation services, including review and remediation of client alerts from AML, KYC, KYT, and sanctions matters

How Deloitte Can Help

In one recent case, Deloitte helped a client navigate a regulatory requirement to reclassify and repaper its customer accounts with exposure to the shipping industry. The team established remediation teams in Switzerland, the Bahamas, and Singapore to prioritize remediation efforts and carry out gap analysis and transaction review.

The outcome for the client included:

  • Globally-aligned KYC standards
  • Repapered accounts
  • Greater awareness of KYC and AML measures among Front Office staff
  • Structured approach enabling further clean-up exercises in the future

Contact Our Experts

If you have a similar issue that requires expert guidance, contact one of our specialists below:

  • Sven Probst, Lead Partner Forensic
  • Nic Carrington, Partner Financial Advisory
  • Philipp Lüttmann, Partner Forensic and Financial Advisory
  • Uday Mehta, Partner Financial Crime and Forensic Analytics

Deloitte’s experts are committed to helping financial institutions in Switzerland navigate the complex world of financial crime investigation and prevention. Contact us today to learn more about our services.