AML-CFT compliance blog
For a professional subject to anti-money laundering and counter-terrorism financing regulations (AML-CFT), a regulatory compliance solution encompasses know-your-customer procedures, screening, risk scoring, transaction monitoring, and transaction filtering. It is judged by the evidence it produces…
The identification of politically exposed persons ( PEP , or “PEPs”) relies on screening clients and their Beneficial Owners at the outset of the business relationship and throughout its duration. The compliance team must be able to set the scope, the threshold for name matching, and the processing procedures on its own…
A customer risk scoring model is transparent when each score can be broken down to determine which factors were considered, with what weighting, based on what data, and on what date. It is auditable if this breakdown, successive versions of the model, and analysts’ decisions are retained and…