Section SYSC 3.2.6 of the Handbook issued by the Financial Conduct Authority (FCA) sets out the regulator's expectations of firms' systems and controls, in relation to compliance, financial crime and money laundering.
SYSC326 provides specialist consultancy support to assist client response to, and the management of financial crime risk.More about SYSC326More about FCA SYSC 3.2.6
Fraud risk assessment and fraud incident response in the operating environment.
Implementing risk-based systems and controls to mitigate ABC risk.
Supporting compliance with The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017.
Planning for regulatory (or skilled person) review of financial crime risk.
Anomaly assesment, fact-finding and investigative research to produce an independent report of findings and observations.
Support challenge of financial crime risk framework in the operating environment.
Support response to fraud loss event or fraud risk exposure.
SME support to planning, development and delivery of financial crime projects.
Support to check ‘important’ operational functions are not impaired by: (a) Inadequate internal controls; or (b) Non-compliance with regulatory requirements.
Supporting monitoring of internal controls and regulatory compliance, aligned to adequacy and effectiveness of the financial crime framework.
Supporting firms to build internal resilience and sustainability.