Our client required a complete evaluation of their customers data management processes due to changes in the data laws within their jurisdiction. The objective was to identify any vulnerabilities and propose necessary changes to ensure the clients handling of third party data was in accordance with legislation.
Digital business has become an irreplaceable part of the contemporary tangible business universe. It fully depends upon robust physical and digital data management also known as Data (or Information) Capital and is subject to a variety of data protection and privacy laws, rules and standards, baselines and guidelines–GDPR, NIS, ISO, G7 and FFIEC. Our team has developed and can integrate unique preventative, detective control frameworks which are responsive and provide meaningful risk metrics along with incident response plans. This enabling our clients and their supply chain network to enhance cyber strategy.
Two week operation
One digital data analyst
Seventeen potential risks resolved
Compliance & Risk
We were urgently tasked with developing and implementing a bespoke of GRC framework (Governance, Risk and Compliance) for our client who is International Commercial Bank located in DIFC.
With a relatively small team we managed to deliver the client a comprehensive solution within one month of engagement. During this period we implemented a set of compliance processes and standards which were based around standards of ISO 19600, AS3806:2006, OCEG, OECD and BASEL, whilst ensuring minimal impact to the business operation. Without our client having the correct GRC in place they would have been vulnerable to not only the regulator but also from a multitude of potential operational errors which could have lead to heavy costs in the long run.
One month operation
Two compliance officers
One risk officer
Corporate Investigative work
Anti-Money Laundering post transaction monitoring – assessment of the wire transfers processed by a bank on behalf of the client, with the added consideration of multiple locations.
Within a two-month period we successfully managed to help the client resolve their issues. The client being an international commercial bank (located in the UAE) was facing an OFAC penalty or withdrawal / suspension of their banking license. Our results were achieved by utilizing some of our common practices, which included, bespoke AML investigation, assessing transfer pricing, adverse media searching and economic purpose assessment (intra-group loans, interbank transfers and double dipping). The result of our work help lead to the uncovering of a $15b USD money laundering operation.
Three AML investigators
Two month operation
Client retained license
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