Risk & Compliance Consulting

Fraud, scams and corruption can severely damage organisations, leading to financial loss and reputation damage, impacting customers, employees, shareholders and taxpayers when government entities are targeted. The Association of Certified Fraud Examiners (‘ACFE’) estimates that fraud cases can cost an organisation millions, while the Australian Competition and Consumer Commission (‘ACCC’) reports scam losses in Australia amount to billions each year. Treasury has issued Scam Prevention Framework legislation, imposing substantial penalties for noncompliance. Given the challenges of recovering losses, prevention and detection are critical.

Our team of risk consultants brings decades of experience in helping organisations predict, prevent and detect fraud, scams and corruption. We assist in uplifting fraud and scam operating models, preparing or assessing fraud and corruption control plans and developing integrity frameworks. Our services include conducting gap analyses against the Australian Standard on Fraud and Corruption Control (AS8001), undertaking enterprise-wide, business area or product-focused fraud and scam risk assessments and performing targeted fraud analytics to detect suspicious transactions and relationships. We also assess and help you comply with scam regulation and frameworks, and conduct control reviews following fraud or corruption incidents, enhancing the control environment and mitigating risk of recurrence. We present our findings in actionable plans, roadmaps and dashboards.

With extensive experience investigating bribery and corruption, we help you build compliant, effective frameworks for assessing and managing these risks. As anti-corruption enforcement becomes increasingly global, we guide you through the practical implications of Australia’s foreign bribery regime, including recent updates to the Criminal Code. Through our global network of compliane consultants, we provide insights into complying with and responding to investigations under international statutes including the U.S. Foreign Corrupt Practices Act (‘FCPA’) and UK Bribery Act.

Our team can assist your organisation in evaluating and enhancing compliance programs to meet regulatory expectations. We bring expertise in improving internal controls and using data analytics to empower you to monitor, manage and improve their compliance efforts. Additionally, we work with clients and their legal teams to design, implement and measure the effectiveness of compliance programs.

Today, companies face unprecedented scrutiny and bear increasing responsibility in the global war on money laundering and terrorist financing. Regulatory scrutiny is driving change, and companies must comply with regulatory standards or potentially face enforcement and costly fines. FTI Consulting provides advisory expertise to organisations, external counsel and regulators to support them on these issues. We understand the laws and regulations and have developed effective methodologies and approaches to launch and remediate AML CTF and Sanctions compliance and governance programs.

Our senior consultants develop, assess and remediate AML CTF and Sanctions programs to ensure compliance with evolving regulations. Trusted by AUSTRAC, financial institutions, law firms, law enforcement and corporations across industries including gaming, we can uplift your financial crime operating model and help you navigate complex AML/CTF regulation to comply with Australian and international legal frameworks. We conduct thorough risk assessments, provide independent reviews of whether Part A of your AML/CTF Program has been implemented effectively, assess and uplift customer identification and verification across Know Your Customer (‘KYC’), client due diligence (‘CDD’) and enhanced due diligence (‘EDD’) and ensure transaction monitoring is appropriately configured to detect and report suspicious matters (‘SMRs’). Our approach is data-driven, using insights to support and maintain robust compliance standards.

There has been a significant increase in the number of global ESG regulations. In Australia, we currently have obligations for companies to report on their actions to identify, assess and address modern slavery risks in their operations and global supply chains. Further, there are mandatory climate-related financial disclosures. FTI Consulting can help your organisation ensure ESG goals and targets are aligned and integrated with the company’s overall corporate strategy and statements.

It is important to have credible statements and targets for companies to take meaningful action on material ESG issues they face. Data integrity is critical to ensure ESG statements are aligned with actions and are validated. We can help with efficient data collection, validation and disclosure for environmental sustainability reporting to safeguard against claims of greenwashing. We also support your organisation with net zero strategies, materiality assessment of relevant areas of focus, supply chain audits and ESG-related investigations. Our holistic support ensures your organisation can confidently demonstrate commitment to sustainability. Our diverse team of sustainability consultants helps uplift specific elements of ESG programs, such as compliance with modern slavery obligations, or provide end-to-end ESG and sustainability advisory driven by corporate strategy, as well as regulatory obligations. Where there are concerns or allegations of greenwashing, we provide independent investigation services.

Learn more about our ESG services

Australian regulators are being more prescriptive in their expectations and increasingly pursue enforcement to drive compliance and improve risk management practices. Global organisations rely on FTI Consulting for trusted, independent advisory and expert services. When new laws impact an industry, you need to know if you’re compliant or the necessary programs, policies and controls to achieve compliance. Our senior industry specialists and compliance experts are recognised for their expertise in designing, testing, enhancing and monitoring compliance programs.

Our team can help when regulators make demands or your organisation is suspected or accused of breaching regulations and must respond quickly. Our work has spanned remediations across retail, business banking, financial advice, collections and insurance products. We have also automated remediation compliance, payment and reconciliation processes and proactively identify incidents to be compliant.

We conduct forensic reviews of contract compliance, whether in licensing, franchising, agency, reseller or vendor/supplier arrangements. Additionally, we conduct forensic reviews for charities to ensure compliance with the Constitution, policies, procedures and protocols, and government programs to ensure appropriate acquittal of subsidies, grants and investment levels.

These agreements typically include a ‘right to audit’ clause, enabling us to conduct the forensic review. Our approach focusses on assessing and identifying gaps in compliance, recommending control improvements to address gaps and control design weaknesses and, where applicable, quantifying any non-compliant spend or unpaid monies due. Our data analytics specialists ensure reviews are conducted efficiently and effectively.