Enhance Your Risk-Based Approach with AML as a Service
AML as a Service offers a comprehensive Risk-Based Approach (RBA) framework, enabling organizations to assess and manage risks with precision and efficiency.
Key Features
Risk Ratings
AML as a Service categorizes risks into four distinct levels—Low, Medium, Medium High, and High. These ratings are determined by evaluating both inherent and residual risks, providing a clear understanding of your organization’s risk profile.
High-Risk Transaction Monitoring
All high-risk transactions are escalated to Compliance Monitoring for thorough examination, ensuring that potential threats are addressed promptly.
Mitigation Control Verification
The system verifies the effectiveness of mitigation controls, ensuring that your risk management strategies are working as intended.
Customizable Residual Risk
The residual risk rating can be customized based on the nature, size, and complexity of your business. Your organization’s Money Laundering Reporting Officer (MLRO) or Reporting Officer can tailor these settings to fit specific business needs.
Real-Time Customer History Analysis
Gain instant insights into customer behavior with real-time analysis, helping to identify unusual or suspicious activity quickly.
Email Alerts
Receive immediate notifications to concerned departments when high-risk activities are detected, ensuring swift action.
Automated Residual Risk and Review Schedules
Based on inherent risks and the effectiveness of mitigation controls, AML as a Service automatically generates residual risk ratings and schedules periodic reviews to ensure ongoing compliance.
Multi-Level Escalations
AML as a Service supports multi-level escalations for RBA investigations, ensuring that potential risks are reviewed at appropriate levels within the organization.
Quick Review Dashboards
Access user-friendly dashboards for a quick and comprehensive overview of your organization’s risk status and compliance activities.
Why Choose AML as a Service?
Integrating these features into AML as a Service elevates your organization’s risk management capabilities. The combination of a robust RBA framework, real-time analysis, and automated monitoring ensures that you stay ahead of compliance challenges. With customizable settings and efficient escalation processes, AML as a Service helps you manage risks more effectively, allowing you to focus on your core business activities.