Olvera helps businesses stay compliant and resilient in the face of potential financial crimes.
Regulatory bodies, both locally and internationally, are intensifying their focus on various forms of crime, be it financial, social, or human. Businesses are at increased risk from these crimes due to their domestic and global operations or through their connections.
An effective risk management strategy properly addresses the mitigation of financial crime, allowing organisations to scale effectively without fear of unwanted litigation.
At Olvera Advisors, we understand the complexities of laws focused on anti-money laundering, counter-terrorism financing, anti-fraud, corruption, whistleblowing, and modern slavery. With decades of combined expertise across various industries, our team assists clients in navigating and meeting their growing obligations to mitigate crime.
Financial Crime Advisory is suited for businesses with one or more of the following concerns
Olvera’s Financial Crime Advisory services navigate risks and respond effectively to fraud and other financial crime issues.
Identifying and analysing risk factors to inform decision-making and enhance organizational resilience and compliance.
Implementing measures to detect, prevent, and report money laundering activities in financial transactions.
Establishing protocols to identify and disrupt financing activities that support terrorism and related organisations.
Advisory on regulations designed to prevent, detect, and penalise fraudulent activities within organisations and financial systems.
Advisory on legislation aimed at preventing bribery and corruption in both public and private sector transactions.
Advisory on protecting individuals who report misconduct or illegal activities within organisations from retaliation or discrimination.
Advisory on regulations aimed at preventing human trafficking and exploitation in supply chains and business operations.
Download our latest report to understand the opportunities, challenges, and trends in the construction sector.
Neil Cussen, a leading authority in insolvency and reconstruction, offers 35 years of experience, excelling in asset tracing, business recovery, and cross-border insolvencies.
Tony contributes 15 years of insolvency experience to Olvera Advisors, with diverse industry expertise and a unique background in ASIC’s Enforcement Division.
Get answers to common questions about Financial Crime Advisory.
Financial crime involves illegal activities associated with doing business. These can include fraud, money laundering, bribery, cybercrime, and corruption. Financial crime affects businesses by exposing them to regulatory fines, reputational damage, loss of assets, and potential legal action.
Although most businesses will not willingly engage in financial crime, their stakeholders might. This includes any suppliers, governments, or investors that they come across with, which can indirectly affect their business.
Examples of financial crime include:
Businesses are vulnerable to financial crime if they lack proper controls, such as weak internal audits, insufficient employee training, outdated cybersecurity measures, or inadequate due diligence on third parties. Olvera’s financial crime risk assessment can help pinpoint these vulnerabilities and help you stay ahead of such risks.
Emerging trends include an increase in cybercrime, phishing attacks, and sophisticated money laundering techniques. Businesses should also be vigilant about cryptocurrency-related fraud and evolving regulatory frameworks addressing financial technology (fintech) risks.
Businesses should implement robust compliance programs, conduct regular audits, monitor transactions for suspicious activities, and ensure staff are trained to recognise and report financial crimes. However, most businesses might not have sufficient resources to do so. Engaging in financial crime advisory services can help develop tailored prevention strategies.
AML compliance is crucial to avoid legal penalties, maintain relationships with financial institutions, and protect your business from being used as a conduit for illegal activities. Non-compliance with AML laws can result in significant fines and reputational damage.
The impact of financial crimes is long-term. Non-compliance can lead to regulatory sanctions, fines, business disruptions, and loss of operating licenses. Additionally, businesses may suffer reputational harm that could impact client trust and future partnerships.
A financial crime advisory service can provide expert guidance on identifying risks, implementing compliance measures, conducting audits, and staying up to date with changing regulations. Olvera’s expert services offer tailored solutions to your business‘s unique risk profile, ensuring regulatory adherence and protection from financial crime.
Financial crime controls should be reviewed annually. However, it should be done more frequently if your business operates in high-risk industries, experiences rapid growth, or faces changes in regulatory requirements. Regular reviews help ensure that your compliance framework remains effective.
Employees are the first line of defence in preventing financial crime. Proper training and awareness programs empower staff to recognise suspicious behaviour, report potential fraud, and adhere to compliance protocols, reducing the likelihood of internal or external threats.
Businesses should conduct due diligence before entering third-party agreements, including screening them for past financial crime issues. While under the contract, you should also monitor and review your partner’s compliance with your company’s standards to ensure they uphold legal and ethical practices.
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We also extend our acknowledgment to the Stolen Generations and reaffirm our commitment to supporting them on their journey toward healing.
