Countering Financial Crime

National Occupational Standards for Countering Financial Crime

"Financial crime shows no sign of abating and threatens any financial services firm. I therefore welcome the timely action by the Financial Skills Partnership in issuing National Occupational Standards that can be used to help counter this threat."

Tony Bronk, Compliance Director, BDO Stoy Hayward

Background information

During difficult economic times it is imperative for organisations to protect their revenues, and so the prevention of financial crime remains very much in the public domain.

In a speech at the Annual Financial Crime Conference, on 27 April 2009, Sally Dewar, the FSA's Managing Director, Wholesale, gave the examples of how overall card fraud losses were up nearly 14% last year, according to The UK Cards Association (formerly APACS), and CIFAS, the UK's Fraud Prevention Service gathered data which showed an overall 16% increase in the growth in fraud, compared to 2007.

Sally Dewar said: "Within these figures are some worrying trends that firms need to consider. For example, if you look at the specific types of fraud contained in the CIFAS figures there has been a 200% escalation in ‘account takeover' fraud... ID fraud costs the country £1.7 billion a year and has directly affected at least six million Britons, according to government figures."

The importance to firms of staff with the appropriate skills and knowledge to counter financial crime cannot be underestimated and the availability of these National Occupational Standards should prove to be a useful resource.

The National Occupational Standards

The project to develop National Occupational Standards for Countering Financial Crime was launched in November 2007 and the early work saw the recruitment of a Steering and a Working Group, who helped inform a Functional Map and an Occupational Map. The final versions of these can be downloaded below.

Between June and August 2008 we consulted with the industry on the draft NOS, via a questionnaire on our website and also at a series of UK-wide consultation events. In total, over 100 practitioners were involved in the development of these NOS through membership of the Steering / Working Group, attendance at focus events or by providing written feedback on their content. We are grateful for all their interest in and contribution to this project.

The National Occupational Standards for Countering Financial Crime were approved for publication in January 2009. They can be accessed below.

The units can also be downloaded individually from the NOS Directory by clicking here.   

Further information

For further information about these NOS, please contact the NOS team by emailing [email protected] or by calling 0845 618 2379.

Your feedback

We welcome feedback on the National Occupational Standards which we have produced. If you would like to comment on the NOS for Countering Financial Crime, please complete and return the feedback form (which can be downloaded below) to [email protected].


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