Use technology to evaluate product risk and maintain a product risk register.
Governments expect businesses to evaluate the risks of their products and services. The AML360 evaluation tool maintains a product/services risk register.
Each product/services risk evaluation is contained in a report which can be downloaded for stakeholder disclosure or for supporting audit and onsite visits.
The evaluation will provide a risk score of each known primary vulnerability, as well as an overall risk score for the product/service. Apply the risk based approach.
Financial services organisations that operate across multiple jurisdictions can easily keep on top of AML/CFT risks by maintaining a group product/services register.
This compliance tool can be used for banks, casinos, money remittance, foreign exchange, derivative traders, lawyers, real estate, accountants and brokers.
Your stakeholders include AML supervisors and auditors. Your risk report will clearly set out the Key Risk Indicators and Risk Drivers so they understand product risk.
Conducting a product and/or services risk evaluation can be completed within minutes. This saves significant human resourcing elements.
Risk evaluations can be updated and/or amended at anytime. This is a totally flexible service meeting requirements of best practice for AML compliance.
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