It is estimated that less than 1% of illicit financial flows are intercepted globally
— FCA, 2019

Criminals and criminal organisations are constantly adapting their methods and using ever more sophisticated approaches to avoid detection and continue to build up enormous stashes of hidden wealth across the globe.

Our Think Tank drives greater awareness, understanding and knowledge of financial crime, through specialist financial crime related policy consultations, research, events and training. The Think Tank also publishes both public and private tailored research as well as independent articles and contributions from our members.


Think Tank pillars

Policy Consultations

Research & Analysis

Thought Leadership Events

Training & Accreditation


Themis Think Tank brings together the very brightest financial crime experts from across the industry, including government bodies, policy makers, law enforcement agencies, regulators, financial institutions and other regulated entities as well as individual subject matter experts to form a specialist centre of excellence for all matters relating to Financial Crime.

Our team at Themis get involved in key Financial Crime Policy consultations to shape guidance and best practise for the industry.  We also conduct industry wide research on key issues and trends as well as bespoke research and training for our clients and members.

To find out more or to book an appointment with one of our QA partners contact info@themisservices.co.uk

Themis aims to promote greater awareness, understanding and knowledge of Financial Crime through first class thought leadership research.  Our research and analysis aims to shine a light on the most pressing financial crime, corruption or terrorist financing issues and promote greater dialogue, debate and innovation across the industry.

Our research programme for 2019 is outlined below and centres around a couple of core themes: the importance and value of a strong Financial Crime culture in organisations; the future of cash in our society and the emerging technologies that can be used to combat different types of financial crime, corruption and terrorist financing.

Our experienced research team at Themis employ a combination of desk-based policy research, statistical methods to quantify trends from available data, structured interviews with senior stakeholders, industry surveys and public polling.

We are looking for sponsors to help promote our research and analysis.  If you would like to co-sponsor any of these or would like to commission a new paper from us, please contact us at info@themisservices.co.uk to arrange a meeting and go through sponsorship benefits.


Technology

Emerging Technology in Financial Crime: An analysis and rating of the best solutions for firms looking to strengthen their Financial Crime systems and controls.

The dark web, encryption, virtual private networks, cryptocurrencies & peer-to-peer transactions have enabled criminals to conduct their business free from traditional surveillance methods. The same technology is changing how law enforcement agencies respond to emergencies, conduct surveillance, manage data and improve their internal communications. Financial institutions are also turning to RegTech to fill compliance gaps, save on the costs of compliance, get ahead of requirements before deadlines and detect enterprise risk before the regulators.

For all these reasons and more, the global RegTech market is expected to grow from $4.3b in 2018 to $12.3b by 2023, focusing on cloud computing, big data, artificial intelligence (AI), machine learning (ML) and natural language processing (NLP).  But as investment floods in to the sector it can be hard to understand the range of technology that is available and the trends that firms must keep ahead of.

Themis is conducting an extensive, industry wide study assessing the emerging technology landscape and producing a full report on the most effective financial crime solutions in the market today.  Different solutions will be analysed, categorised and rated all in a handy easy to use guide for organisations to better understand the most suitable options for their specific business needs.


Culture

Understanding the strategic value of a strong Financial Crime culture.

Themis are working on an industry wide, authoritative report on the meaning & strategic value a strong Financial Crime culture.

Before looking at specific Financial Crime risks and controls within any organisation, it is important to assess the overall AML culture within the firm.  Why?  Poor culture is widely accepted as a key root cause behind many of the major Financial Crime scandals that have been well publicised in the global media over recent times.  National and international regulators have been increasing the size and frequency of their investigations and fines for banks but increasingly the media and public opinion are turning against many other types of institution as stories of modern slavery & human trafficking, bribery & corruption are revealed to be inherent across many aspects of our public life, from schools to health, high value dealers, sports agencies and governments themselves.  Boards who can get their culture right are making a key investment into their business franchise.  Our report aims to show the true strategic value of focusing on culture over remediation and will include an analysis of:

  • The Financial Crime landscape;

  • Why is this so important? What are the impacts of Financial Crime on our society and businesses.  What are the impacts on organisations of getting it wrong?:

  • Where are we now?  The current situation and how firms have responded, including an analysis of key challenges and best practises;

  • Setting out the way ahead – key recommendations from the report findings.

This analysis will include results from a wide ranging survey of both public and private sector organisations as well as a series of structured interviews with senior figures from government bodies, regulators, law enforcement, banks and other regulated firms.


CASH

Cash is King (no more): Exploring the risks of cash from a financial crime perspective.

It may surprise you to know that cash is no longer the predominant payment mode in the UK, although criminals and criminal organisations will still continue to rely on cash.  Notes are easy to pass around and don’t come with an audit trail.  For those with criminal intent and half a brain, it is fairly easy to clean dirty money. 

As a result of the higher Financial Crime risks associated with cash, many banks in the UK are scaling down their retail banking and cash-based services.  However, in certain cultures cash remains king even for legitimate, honest business.

In this short research paper, Themis will analyse the financial crime risks associated with cash, the UK regulatory view, and explore whether there is risk of exclusion amongst those that either rely heavily on cash (eg: Ultra High Net Worth Individuals from certain cultures) or can only use cash because they don’t have access to other banking services.