Smart Infotech

With the advancement of technology, there is also an increase in the number of money laundering & terrorist financing avenues. The AML Risk Assessment mechanism by AML-TRACE helps identify and report such potential risks, thus saving businesses a lot of damage. The identified possible areas of money laundering and terrorist financing activities are Key Risk Indicators. All companies across the world can benefit from the in-built AML risk scoring model of the software to understand and evaluate financial fraud risk.  The Key Risk Indicators The type and size of a business. Kinds of customers, and products and services offered to them. Way of hiring new customers & keeping in touch with existing customers. Geographical risks. Risks are posed by: Your customers' beneficial owner(s). Your clients’ source of funds & wealth. The kind of business relationship with your customers. The control structure of companies and trusts. Besides defining the KRIs mentioned above, an effec...