- July 6, 2024
- Posted by: FCS Compliance
- Category: Uncategorized
In this interview, FCS PR Director, Alison Blease introduces you to Patrice Dolor, AML Analyst at FCS Compliance.
Dated: July 2024
AB: Today I am joined by Patrice Dolor, AML Analyst at FCS Compliance. Patrice has been with the company since December 2022, but before then worked for HMRC as a compliance officer.
Lovely to meet you Patrice.
PD: Good to be here!
AB: I’m sure many of our clients will be interested to learn that you used to work for HMRC. You must have great insight into what they look for when they’re out on an inspection.
PD: Yes, it’s interesting working on the other side of the fence. At HMRC I used to carry out anti-money laundering (AML) inspections for lots of businesses including estate agents. Businesses are quite understandably a little anxious when HMRC visit, but the opposite is true of working for an AML company. Agents really trust us – with good reason – and see us as someone who can help them through what can be a stressful process.
AB: Tell me a bit about your role now.
PD: As an AML analyst at FCS, I help agents complete Customer Due Diligence (CDD) on their clients. This can be an individual, a complex trust or even a company. I typically compile the risk assessment needed to smooth a deal through.
AB: How did you get into this line of work?
PD: While at university I worked part time for Metro Bank. It was in the early days of the bank which you may remember was the first UK bank to be launched onto the high street in 150 years. After I graduated, I went to work for them full-time. I was based in their lending department, overseeing mortgage draw downs and personal loans.
From Metro Bank I moved to the online bank Zopa. Working as an underwriter in their personal loans team, it was my job to make sure that clients were able to afford the loans they were applying for.
As part of my role there I worked on cases that had been flagged as potentially fraudulent.
AB: So this is where your interest in AML started?
PD: Exactly. I’d be investigating fraudulent activity – often with other banks. And it opened my eyes to the world of fraud and money laundering. It was interesting work and led me to join HMRC. I was at HMRC for two and half years and moved from there to FCS.
I was interested in AML and had been aware of FCS before joining them. Funnily enough while at HMRC I came across FCS on one of my inspections – they had completed the risk assessment on an inspection I had been working on, and I noted how thoroughly it had been completed.
It’s interesting, because I think FCS has a unique insight across the regulated sectors through stakeholder engagement meetings with HMRC, meaning we can assist with improving policy delivery and can help to shape future guidance and best practice. Ultimately, both HMRC and FCS have a common goal to ensure an excellent level of compliance is achieved, which will help clamp down on money laundering.
I really like working for organisations where I feel I’m helping people and can make a difference. That’s definitely the case here at FCS. Everyone here has their own area of expertise. And that breadth of knowledge means there’s always someone to bounce a query off. And because of this, we’re able to make the best decisions on behalf of our clients.
AB: What are the most common mistakes you see agents make?
PD: All too often agents don’t understand their role when it comes to Suspicious Activity Reports (SARs). They don’t always recognise potential AML behaviour. It may be that they just haven’t come across it before.
I’d suggest a good place for an agent to start, is to Google the name of a new client. It’s a really simple thing to do and can throw up any adverse media coverage linked to them, or even if they have court cases pending against them. It can give the agent a bit of a head start before they get in touch with us.
AB: That sounds like a top tip and as you say a simple thing to do. Thank you so much for your time today – it’s been fascinating!
PD: Thank you!
