AML risk assessment software provides analysis of business vulnerabilities to money laundering and terrorism financing. An AML risk assessment report identifies the level of risk to enable adequate policies, procedures and controls to manage the risks. AML360 risk software meets regulatory expectations of the risk-based approach. The AML risk report is customised to the country, sector and business entity.
Visualisation
Heat maps support the risk report findings.
Easy to Use
No training required.
Reporting
Detailed report and guidance manual.
The AML360 business risk assessment allows AML compliance officers to log into a secure account and complete their AML business risk report. As an AML risk assessment software, configurations to meet the regulatory risk-based approach are automated. Your AML/CFT risks are detailed in heat maps and an explanatory report. Prompts and tips are included for developing policies, procedures and controls.
Inadequate AML business risk assessments are low-hanging fruit to regulatory action. Businesses often fail to identify areas with the most significant risk of unwittingly facilitating money laundering or terrorism financing. The AML360 risk solution solves the complexity and costs in completing this mandatory compliance obligation.
A business risk assessment for AML/CFT compliance requires an examination of certain areas within day-to-day operations. This includes (a) the nature, size and complexity of sector and business, (b) customer types (B2B and B2C), (c) products/services, (d) method of delivery (onboarding and ongoing) and (e) countries linked to customers and transactions.
Know Your Customer for AML/CFT compliance requires a customer risk rating. High-risk customers should undergo enhanced due diligence by verifying the origination of funds and beneficial ownership. All countries subjected to risk-based regulations are obligated to manage customer risks. By knowing customer risks, ongoing monitoring has improved outcomes.