Skip to footer FRA Forensic Risk Alliance ABOUT FRA EXPERTISE RESULTS NEWS AND INSIGHTS FRA PULSE CAREERS CONTACT Case Study European Bank CASE STUDIES AIRBUS INTERNATIONAL NOT-FOR-PROFIT ORGANIZATION EUROPEAN BANK MIDDLE-EAST TELECOMMUNICATIONS COMPANY MULTINATIONAL OIL AND GAS EXTRACTION COMPANY MULTINATIONAL LIFE SCIENCES COMPANY GLOBAL TECHNICAL CONSULTING FIRM INTERNATIONAL EVENT AND TALENT MANAGEMENT COMPANY DEMINOR RECOVERY SERVICES/OLYMPUS TECHNIP ROLLS-ROYCE BANK LEUMI CLASS-ACTION LAWSUIT CHALLENGING SOLITARY CONFINEMENT IN US PRISONS NORDIC TELECOMMUNICATIONS COMPANY MULTINATIONAL INSURANCE FIRM MULTINATIONAL TRANSPORT ENGINEERING COMPANY INTERNATIONAL MINING COMPANY Challenge A European bank approached FRA to perform an initial evaluation of its exposure related to customers allegedly involved in money laundering activities. This was of concern to the client given the potential regulatory, financial and reputational implications for the bank. FRA was requested to then perform a deeper dive into other potential connections within the customer base and associated transaction activity. Action FRA had a short time span to search the bank’s network for relevant information during the initial review. The FRA team worked vigorously with the bank to define data sources spread across multiple systems, obtain relevant historical information, and to process and host the data in a secure air-gapped environment. FRA deployed a combined team of forensic accountants and data analytics specialists to quickly execute targeted analyses and answer primary questions for the bank. The deeper dive involved a wider data gathering and analysis exercise pertaining to customers, transactions and activity spanning a time period in excess of 10 years. FRA handled significant volumes of both structured and unstructured data, and designed sophisticated data analytics techniques to identify potential connections between customers. Solution FRA’s initial observations provided the bank with preliminary information, enabling the bank to assess its exposure to money laundering risk posed by a specific population of entities. By incorporating FRA’s deep knowledge of money laundering risk factors, FRA conducted a deeper dive designed to generate a more comprehensive picture for the bank of other potential connections within the customer base and associated transaction activity, and to highlight whether potential vulnerabilities remain. LONDON Audrey House 16-20 Ely Place London EC1N 6SN United Kingdom +44 (0)20 7831 9110 WASHINGTON, DC 2550 M Street NW Washington, DC 20037 United States +1 (202) 627-6580 PROVIDENCE, RI 10 Dorrance Street, Suite 700 Providence, RI 02903 United States +1 (401) 289-0866 DALLAS, TX One Cowboys Way Suite 470 Frisco, Texas 75034 United States +1 (469) 604-0925 PARIS 44, avenue George V 75008 Paris France +33 1 74 88 05 40 CANADA 20 Place du Commerce Nuns’ Island Montreal, Quebec H3E 1Z6 Canada +1 (401) 289-0866 NEW YORK CITY, NY 434 W. 33rd Street 7th Floor New York, NY 10001 United States +1 (646) 921-1865 PHILADELPHIA, PA 727 Norristown Road Building 8 Spring House Innovation Park, Suite 206, Lower Gwynedd, PA 19002 United States +1 (267) 405-9302 STOCKHOLM 7A Centralen Vasagatan 7 111 20 Stockholm Sweden +44 (0)7747 790232 ZURICH Bahnhofstrasse 100 Zurich 8001 Switzerland PRIVACY LEGAL COOKIES MODERN SLAVERY STATEMENT SITEMAP CONTACT © 2021 The FRA group in the UK comprises Forensic Risk Alliance Limited (number 3895636) and FRA Solutions Limited (5863958). Both are limited companies registered in England & Wales, and have their registered office at 3rd Floor, Audrey House, 16-20 Ely Place, London EC1N 6SN. The term partner is used to denote senior employees of the limited companies. All rights reserved. This website uses cookies to provide you with a more responsive and personalized service. Please use the buttons to manage, accept or decline your consent. For more information, please visit ourCookie Policy Manage Cookie Settings Accept All Cookies