Risk Assessment
Overview
A risk assessment is the structured process of identifying, evaluating, and prioritizing potential threats that could impact an organization’s operations, compliance, or security. In financial services, it involves analyzing risks such as money laundering, fraud, cyberattacks, and regulatory breaches. Institutions evaluate both the likelihood and impact of these risks, often considering factors like customer profiles, transaction types, jurisdictions, and delivery channels.The outcome guides the design of internal controls, monitoring systems, and reporting mechanisms. For banks, fintechs, and payment providers, risk assessments are a cornerstone of AML/CFT compliance, ensuring that resources are allocated effectively to high-risk areas. Regulators worldwide, including FATF and national authorities, mandate periodic risk assessments to strengthen resilience and safeguard the financial system.
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AML Screening
Screen users against Politically Exposed Persons (PEP), watchlists, sanctions lists, adverse media, and more through one-time screening and advanced monitoring.
Transaction Monitoring
Monitor transactions in real-time and analyse past behaviour to identify suspicious activities and ensure regulatory compliance across the user journey.
Database Verification
Instantly verify user information by connecting to trusted databases across jurisdictions for accurate, compliant, and faster onboarding.
FAQ
What is a compliance risk assessment?
A systematic review of exposure to financial crime, fraud, and operational risks.
Why is it important?
It informs where to focus resources and controls.
What factors are assessed?
Customers, products, channels, and geographies.
Who oversees it?
Compliance officers and boards, under regulatory review.