Monitoring money laundering and profiling geographic risk

Summary:

ComplyGenics was engaged to help redefine the previous geographic risk score based methodology –that depended on weighting and thresholds - through statistical and analytical backing so as to obtain more granularity and repeatability of risk rating jurisdictions.

 

Problem Statement:

A large international Bank needed to better manage their FCC risk across all customer segments.  An integral part of this strategy was to improve its current Geographic Risk Rating Model.

 

Our Approach:

  • We helped implement a technology solution, that enabled the client to establish a baseline to ensure that money laundering and terrorist financing risks are addressed in a consistent manner globally

  • The client is now able to replicate and enhance the geographic risk identification tool, which is easier to understand and differentiates groups based on key risk characteristics

  • Downstream activities can now be more targeted and prescriptive, focusing on the risk drivers, not the score

  • The recommended geography risk ratings utilize a better range and spread out the high concentration on 9 and 10 in the previous rating system

Results:

  • Leave-behind technology tools and processes were created for ease of scalability and adaption to the regulatory requirements

  • Geography risk rating was spread well to overcome any excess weighting of high-risk geography as a risk attribute in the customer risk rating

Monitoring Money Laundering & Profiling Risk

Contact Us

1100 Cornwall Rd. Ste. 205, Monmouth Junction NJ 08852

609-924-3400

  • LinkedIn
  • Facebook
  • Twitter

© 2020 by ComplyGenics