Jerry Walters, managing director of FCS Compliance, has died suddenly during a cycle ride, the company he founded has announced.

FCS Compliance issued a statement saying: “It is with tremendous sadness and profound shock that FCS Compliance, the specialist Anti-Money Laundering (AML) service provider, announces the sudden and untimely death of Jerry Walters, Founder and Managing Director.   A much-loved friend and colleague, Jerry died unexpectedly during a cycle ride through the mountains of Wales on Friday 25 June.

“Jerry was hugely admired and respected by all who met him. His knowledge, experience and skills in financial crime investigation and law enforcement were truly exceptional, and his kind nature, wit and uncompromising dedication to both his team and FCS customers was well recognised.”

Walter’s experience in financial crime was founded on over 25 years of experience of working in law enforcement specialising in the investigation and prosecution of serious and complex fraud and money laundering.

Prior to setting up FCS Compliance in 2016, he worked for Thames Valley and for the City of London Police where he was to gain over 30 years’ experience in financial crime and fraud investigation.  During this time, he investigated and led the prosecution on numerous serious and complex money laundering cases.  Both domestic and international, many of these cases were high profile and in 2013, Walter was named UK National Detective of the Year.

In 2019, FCS Compliance was acquired by LonRes. Since then, Walter, together with his team – many of whom also have extensive experience in law enforcement – quickly established FCS as a respected leader in money laundering compliance within the property, art and legal sectors.

LonRes chairman, William Carrington, said “Jerry’s sudden passing has shocked us all and he will be greatly missed by the whole team. He will not only be remembered as a true master in AML but also for his extraordinarily kind and generous character. Our thoughts are with his family, particularly his wife Caroline and children, Megan and Henry.

“Jerry was passionate about FCS Compliance representing the gold standard in AML service provision and he achieved that. He leaves behind a company well-positioned to continue delivering on that ambition well into the future.”

The FCS Compliance team will be led by LonRes director, James Golfar, who will act as interim managing director of the company.

Friends and colleagues are invited to share their memories and messages with Walter’s family at RememberingJerryWalters@fcscompliance.co.uk.