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Demonstrating adherence to sanctions regimes and the effectiveness of sanctions programmes is now more vital than ever.

The Thistle Initiatives Financial Crime Team can assess, review and support your sanctions programmes. We advise and bring practical solutions to solve regulatory challenges in this ever-evolving area.

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Fraud Prevention@2x

Identify

Risk Assessment: Creation and implementation of sanctions risk assessments, or review of existing assessments, highlighting areas of improvement and enhancements.

Strategy & Policy Review: Drafting sanctions strategies and policies, or review and uplift of existing documents, incorporating latest regulatory requirements and broad industry insights.

Financial Crime Framework Integration: Assessing and advising on how to leverage existing financial crime frameworks, including AML processes, for operational efficiencies.

AML@2x

Operate

Screening Tool Review: Independent review and testing of sanctions screening tools, rulesets, fuzzy logic and alert settings. Independent advice on screening solutions, including vendor selection and RFP support.

Sanctions Audit: Full review and report on sanctions control frameworks, identifying potential gaps and areas for improvement.

Health Check: Rapid review of sanctions control environments, highlighting potential gaps and practical solutions.

Horizon Scanning: Identifying and informing of updates to the sanctions landscape with practical views on what it might mean for your firm.

ABC@2x

Enhance

Training: Bespoke sanctions training for employees and third parties to be educated on sanctions requirements.

Resource Support: Sanctions expertise for remediation of BAU workloads, alert backlogs/spikes or to address skill gaps.

Rapid Response Remediation: Provision of sanctions experts to swiftly assess issues, providing technical skillsets and practical solutions.

Investigations: Independent investigation capabilities to support you when sanctions issues arise.

CASE STUDY: Thistle Initiatives are “quick, professional, knowledgeable, and easy to deal with”

Background: The Firm, a specialist business bank, had not tested their sanctions screening tool since it was implemented. They wanted an independent review to ensure the tool was still working as expected and thresholds were appropriate for their risk profile.

Our Support: Thistle Initiatives conducted extensive testing using a bespoke test list to cover:

  • Appropriateness of sources and lists (given their sanctions risk exposure)
  • Fuzzy logic
  • Tolerance levels and configuration
  • Handling of non-Latin characters

Outcome: The test exercise identified that the system had an appropriate tolerance level and fuzzy logic. However, the Firm was screening against more lists than necessary and areas for operational efficiencies were identified. The Firm received a report with quantitative and qualitative testing outcomes which could be shared with third parties.

What our clients have to say

'''Working with Thistle Initiatives has been an amazing experience.

Their team is professional, organised, supportive and highly knowledgeable in Financial Crime. Moreover, their approach to stakeholder management and communication within our organisation has been perfect at all stages.

Thistle conducted our annual AML Audit,  and their methodology, scope, and execution were carefully structured and well-timed.  The advice provided to our organisation was incredibly helpful. We look forward to collaborating with the Thistle team again soon."

One Money Mail Ltd
One Money Mail Ltd
“As Head of Compliance / MLRO, I found that from drafting the review scope from our initial RFQ and throughout the process, Thistle was very professional, and managed the review timetable so that that the review was completed on time and without delay.

The on-site visits and meetings were an efficient and effective way for the firm’s employees to demonstrate their knowledge and experience of AML, and AML Risks, and the one-to-one File reviews enabled both parties to complete the process and gain insights from the review teams experience.

Other all, I found the Thistle review team to be very knowledgeable, and I would have no hesitation in recommending them or using them again in the future.”
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Equiti
“Thistle has supported us with our ongoing compliance requirements ever since they assisted us to become an authorised EMI. The team are highly knowledgeable in both the EMI and AML regulatory space. They are thorough and constructive with any feedback or advice and are able to assist with complex compliance matters in a digestible way, with a commercial mindset."
VertoFx
VertoFx
“Thistle understood our brief for streamlining the onboarding process accurately, taking care and diligence to understand the pain points and potential areas of improvement. The Thistle team delivered clear and insightful feedback, which I’m sure will vastly improve and accelerate the current onboarding process.”
Openpayd
OpenPayd
“Working with Thistle on our recent AML audit was an absolute pleasure. Their team demonstrated exceptional professionalism, expertise, and efficiency throughout the entire process. Not only did they complete the audit promptly, but their warm approach during sessions was appreciated, and results were delivered results to an incredibly high standard. We are now more capable of navigating the complexities of compliance thanks to their in-depth knowledge of AML regulations and customised approach to the cryptoasset sector. We highly recommend Thistle to any business looking for the best compliance services available.”
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Archax Ltd

Are you Ready for Failure to Prevent Fraud?

With the offence coming into force later this year, we’ve developed a short self-assessment tool to help you understand how prepared your firm really is.

It takes just five minutes to complete and provides an instant summary of your results, highlighting any potential gaps across key areas like governance, risk assessment, due diligence and training. You’ll also have the option to speak with a member of the Thistle Initiatives team about your findings and next steps.

Take the test

Your points of contact

Jessica Cath 1920 wide rounded corners (1)

Jessica Cath   linkedin-lead 1 mail
Partner, Financial Crime

Jessica is a financial crime leader, working with a range of firms to build, scale and assure all elements of the financial crime framework. She has worked with start-ups to Tier 1 Banks to transform controls through growth phases or when facing regulatory enforcement.

Jess has also conducted multiple US monitor and s166 Skilled Person reviews globally, and has a Masters Degree in Intelligence and International Security and holds an ICA diploma in Financial Crime Prevention.

James Dodsworth
James Dodsworth
Senior Manager

James has worked in financial crime compliance across a range of sectors for over 20 years and is a certified fraud investigator. James has extensive expertise in both fraud and sanctions compliance, having led multiple large fraud and sanctions reviews.

Leanda_Mark-Ihama-760670
Leanda Mark-Ihama
Senior Manager

Leanda has over 14 years financial crime experience, including in the banking industry and at the FCA, and has completed the CAMs certification, ICA Financial Crime Prevention Diploma and ICA Anti-corruption certificate. Leanda has extensive expertise in both AML and ABC, building and assuring frameworks.

Ilaria Iodice
Ilaria Iodice
Senior Manager

Ilaria has deep understanding of financial crime compliance through extensive monitor and skilled person experience, as well as deployment of large remediation programmes. Ilaria leads Thistle’s remediation and managed resource offering.