Assessing AML Geographic Risk: A Methodology
Foreign transaction activity is an established risk factor for money laundering. But, what makes one country “riskier” than another from a money laundering or terrorist financing perspective? Financial institutions have no definitive source for country money laundering risk.
In the final part of this webinar series on customer risk scoring, Laurie Kelly, CAMS will explore one objective methodology financial institutions may consider to assess individual countries’ money laundering risk, which in turn may be used in transaction activity monitoring, customer risk scoring and the institution’s high level money laundering risk assessment.