ComplianceAid assists Financial Institutions (FI) and Designated Non-Financial Businesses and Professions (DNFBPs) with design, develop (draft), implementation of a risk base approach Risk Assessment Program.
A Customer Risk Rating Matrix ensures that customers posing elevated levels of AML/BSA/OFAC/CFT risk are properly identified and monitored. ComplianceAid will assist regulated entities with formulating criteria for risk evaluation in areas including PEPs & Sanctions, Customer Types, Locations, Products and Services as well as Other Factors. The framework developed addresses how to weight and score customers in order to classify each one of them as high, medium (moderate) or low risk.