In our consumer world of today, a lot of behind the scene regulatory risk concerns tend to be overlooked when it comes to retail or consumer sectors. The use of raw materials in producing goods like lithium batteries for electric cars, the use of child labour in jewellery or garment production or the unfair trade deals in securing cash crops such as cocoa to produce chocolates raise concerns on a firms AML, Sanctions ABC, Supplier Due Diligence processes, systems and control mechanisms.
We help our clients in these sector identify the risks, provide guidance on adequate, effective and cost efficient ways to protecting their businesses from FC related risks linked to bribery, sanctions violations, money laundering and the abuse of process which in the short to long term may prove costly to their operational, legal, regulatory and reputational standing.
Examples of our work
- Designed and delivered training to a car manufacturing firm on the impact of s.1502 of the Dodd Frank Act on its Supplier Chain Due Diligence risk management processes
- Performed a Gap Analysis and Health Check of a major tobacco companies’ financial crime related policies and procedural guidelines to see it was compliant with recent regulatory provisions
- Upskilled inhouse onboarding teams of a major aviation firm on due diligence process requirements involving financing of shipping and aviation based counterparties