Tag: customer risk assessment

Risk-based transaction monitoring represents a proactive method aimed at detecting financial crimes by closely analysing financial transactions to unearth potentially fraudulent patterns or signs of money laundering.

Organisations worldwide are increasingly seeking ways to optimise their customer risk assessment (CRA) and anti-money laundering (AML) risk management strategies. Implementing effective CRA and AML procedures plays a crucial role in providing an accurate analysis of the potential risks that new clients might pose.

Customer risk assessment is where the company assess which type of risk a potential customer poses, whether they are existing or new clients.