CRMS offers ad hoc advisory services to businesses facing specific challenges, including restructuring, refinancing, or navigating regulatory compliance. These services are designed to provide tailored strategies that effectively manage counterparty and third-party risks. Whether facing a corporate crisis or restructuring efforts, CRMS ensures that due diligence is conducted to maintain compliance and reduce the risk of fraud or financial crime.
Preventative Measures: Detecting Money Laundering Through Financial Forensics in Accounting Firm Engagements
In a case involving an accounting firm conducting routine financial reviews, CRMS uncovered an attempted scheme to fabricate proof of funds intended to obtain financing from a third-party lender. We used our integrated compliance framework to perform EDD of the counterparty activity cross-border transactions, e.g. from jurisdictions with weak anti-money laundering (AML) controls.
Our early detection enabled the regulated firm to disengage from the high-risk counterparty before any transaction occurred. By exposing illicit financial behavior, CRMS helps safeguard the firm from potential legal exposure and reputational harm, reinforcing the importance of proactive counterparty and third-party risk assessments.
