Globally, financial crime laws have moved to a risk-based approach requiring businesses to conduct risk assessments to identify where their vulnerabilities to financial crime are. The assessment, including assessments of its controls is then used as the basis to enhance its control framework and close off its vulnerabilities.
Are essential to systematically identify, evaluate, and mitigate potential risks associated with financial crimes such as money laundering, fraud, and corruption. By conducting thorough risk assessments, organisations can identify risks, ensure regulatory compliance, protect their reputation, safeguard their assets and the communities in which they operate.
Promotes defendable data-driven results tailored to your organisation whilst presenting firm wide risk profiles, identifying and highlighting high risk areas and control gaps or weaknesses. Real-time reporting that aggregates risk outcomes for both an individual business unit and organisation-wide level provides accurate, consistent and dependable results. An integrated risk assessment solution that is adequately benchmarked with your industry and peers, allows you to efficiently obtain input from many business units and stakeholders whilst ensuring identification of key risks.
Adaptable technology will enable you to conduct impact assessments dynamically keeping you up to date with regulations and guidance. The use of your own data will remove bias and subjectivity, allowing for rapid reporting across the enterprise and drawing out observations and insights.s