Customer risk assessment and management
An IT solution for the development of money laundering and terrorist financing risk scoring system. This IT solution, using a variety of ML/TF risk factors and features, helps a financial institution determine the risk level of its customer.
Using the risk-based approach and taking into account the level of customer risk, the results of an automated risk scoring system enable the financial service provider to:
- decide on establishing a business relationship with a customer,
- apply appropriate customer due diligence or measures to mitigate the ML/TF risks; or
- decide to terminate business relations in cases where the customer's ML/TF risks are not acceptable or manageable.