The AML360 business risk assessment has been developed with reference to regulatory guidance material.
Additionally, our systems have incorporated a risk based approach by adopting international principles as published by the Financial Action Task Force.
The software enables your business to readily identify those areas where your business should commit a greater level of policies, procedures and controls, and conversely where your risk is lower, reduce the resourcing levels in those areas. This meets the principles and objectives of an AML/CFT risk based approach.
The results of your AML360 risk assessment will allow your AML compliance officer, as well as senior managers, to have a reasonably informed judgement on the likelihood of your business unwittingly facilitating ML/FT.
In doing so, the AML360 risk based methodology meets legislative expectation.