Helping banks meet the expectations of the FCA’s "Dear CEO" initiative

Following recent assessments of retail banks’ financial crime prevention systems and controls, the FCA published a Dear CEO letter to highlight common control failings identified in Anti-Money Laundering (AML) frameworks. 

The FCA identified five common weaknesses and themes: Governance and Oversight, Risk Assessments, Due Diligence, Transaction Monitoring and Suspicious Activity Reporting.

EFI specialises in the rapid deployment of experienced teams to help banks quickly address any challenges or shortfalls that the gap analysis may have identified – find out more below.

the FCA letter to retail banks

How EFI can help

EFI can help review your financial crime prevention framework and rapidly mobilise teams to address any gaps identified. Our flexible resources allow our teams of highly trained analysts to pivot and adapt to ever-changing client requirements at short notice.

EFI's Subject Matter Experts (SMEs) have an in-depth knowledge of the regulatory environment and operational best practice, which allows us to specialise in the following areas:

Customer Due Diligence and Enhanced Due Diligence (CDD and EDD)

CDD and EDD data is the single most important element of your financial crime prevention programme. It's relevance, accuracy and timeliness impact upon the effectiveness of customer risk assessments, second line testing, ongoing monitoring and resource planning to ensure your compliance programme is fit for purpose.

EFI works with its clients to ensure that this bedrock is firmly in place and where problems arise, that they are resolved as efficiently as possible.


Case studies

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Transaction Monitoring

We can support and run your entire transaction monitoring process. We work with regulatory authorities to fulfil your monitoring requirements and establish an accurate and robust process.

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