The energy industry, especially within oil & gas sector, are going through a massive change curve as the world moves towards sustainable means of energy supply. Countries and corporates are under scrutiny in the way, manner and form in which the means of production are exploited, explored, extracted, refined and sold.

The risk of financial crime is ever more present through risks of bribery and corruption, modern slavery exploitations, the lack of effective supplier or customer due diligence, sanction violations through payment circumvention or illegal oil bunkering trade resulting in money laundering. We work with our energy sector client by reviewing their risk exposures to Financial Crime and designing realistic, robust and effective policies/procedures, systems and controls in order to help combat financial crime.

Examples of our work

    • Prepared a CDD Desk book guide for an Oil & Gas firms onboarding process
    • Designed and delivered training to a firm on the impact of s.1502 of the Dodd Frank Act on its Supplier Chain Due Diligence risk management processes
    • Worked on an FC Transformation programme that required establishing a KYC Remediation service to manage the client’s backlog of files
    • Designed AB&C Procedural documents covering G&H, Hiring risk, Charitable Activities, 3rd Party Risk management & upskilled staff on performing effective DD on their 3rd party suppliers
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Related Capabilities

  • Our capabilities within the Energy Service sector is driven around our practical knowledge, experience and understanding of the sector and applicable regulations. We offer the following areas of specialisation and services:

Insights

  • The following articles, white papers, webinars etc have been published or referenced from Kaizen’s insight page and are referenced and applicable to the oil & gas and energy sector