Money Laundering Risk Assessment
AML360 has developed AML risk assessment software with AML regulatory technology. Maintain your business money laundering risk assessment with an online account. Configurations identify individual characteristics of business operations with higher exposure. Have your risk assessment completed within an hour through a secure web account. Keeping it up-to-date takes minutes. Get regulatory certainty by using a risk-based compliance solution.
How It Works
What is an AML/CFT risk assessment?
An AML/CFT risk assessment measures the level of exposure inherent in a business for unwittingly facilitating a financial crime. The outcome of a money laundering risk assessment is a report highlighting higher-risk areas.
These higher risk areas are (a) the Nature, size and complexity of the business, (b) types of products and services, (c) the method of delivering products and services to customers and ongoing interaction, (d) customer types, (B2B and B2C) and (e) geographies dealt with. The AML/CFT business risk assessment report will guide the development and implementation of policies, procedures and controls.
Businesses commonly need help developing an adequate and effective money laundering risk assessment. Too often, small and medium-sized enterprises lack in-house subject matter expertise.
AML360 has resolved these issues. Simply log in to your AML risk assessment software account. By logging in to a secure online account, AML compliance officers can quickly complete business risk technical analysis.
Money Laundering Risk Assessment Template
As a quick fix to completing regulatory obligations, businesses often rely on an AML/CFT risk template. AML supervisors and auditors often criticise templates. This is due to money laundering risk templates failing to adequately consider the individual characteristics inherent in the business.
AML360’s regulatory technology avoids these issues by only reporting on matters relevant to the business and industry sector.
Our risk assessment solution has been in use for over ten years. We have a history of protecting businesses from inadequate firm-wide AML risk assessments.
Money Laundering Risk Assessment
AML360’s regulatory technology automates the money laundering risk assessment and reduces human resourcing costs. Furthermore, easily manage the analysis process from a secure Cloud account.
Following a cleared payment, you will receive instructions on how to get started.
Instructions are emailed on How to Get Started. The platform is intuitive and easy to use. If you do need assistance a knowledge library is available with written instructions and video demonstrations. If you have subscribed to ‘Managed Services’, you also have access to a dedicated AML compliance professional.
You can cancel your subscription at any time during the current subscription period. There is no automated renewal. A renewal requires your separate confirmation. Reminders are sent that your account is due to expire. You can update your risk assessment at anytime before expiry.
Additional users can be added to your account for USD50 per month.
Your data is stored in encrypted servers, using the same level of security as that used by banks. You are able to select the jurisdiction of your server location. You should use a unique identifier. By following this method, only your business will know who the data pertains to.
Yes. Your account can operate with numerous compliance tools such as client risk profiling, activity monitoring, bespoke management reporting and internal reviews.