When undertaking the AML360 risk assessment, there is no limitation to the types of risks you can include. This means the resulting risk profile is unique to your business. This is the difference between a template and a risk methodology.

AML360 has developed a globally accepted risk based methodology by identifying and measuring key risk divisions and risk drivers. The risk divisions represent those areas of your business that present the greatest risk to ML/FT occurring and include (a) nature, size and complexity of business, (b) products and services, (c) methods used for delivering products and services, (d) customer types, including services you receive or provide to other businesses, and (e) risks arising from geographies that your business is linked to.

Risk drivers are those elements that are most likely to increase risks across each division. The greater the presence of the risk driver, the greater the likelihood of ML/FT occurring.

For those businesses that are competent in analysing ML/FT risk and applying the risk based approach, there is the option to subscribe to AML360s blank canvas dashboard and design your own risk based methdodology. This requires a premium subscription of NZD169 per month, payable in six-monthly intervals. After the initial minimum payment of six-months, you can cancel at anytime on a pro-rata monthly basis.