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.

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

Handbooks

Webinars

Blogs

Videos

EFI's KYC model: Review, classify and onboard

EFI Case Study: The Amberscam - The Gemcoin Scheme

Don't be at sea with your KYC

Podcasts

Suspicious Activity Reporting (SARs)

We support the end-to-end SARs process from detection to delivery, working with law enforcement and accurate data throughout. Our team of professionals produce high-quality reports so your organisations can continue delivering exceptional value for your customers.

Case studies