Why Subscribe to the Money Laundering (ML)/Terrorist Financing (TF)/Proliferation Financing (PF) Client Risk Assessment Tool?
Institutions classified as Accountable Institutions under Schedule 1 of the Financial Intelligence Act, Act No. 13 of 2012 (FIA), as amended, are required to compile money laundering, terrorist financing, and proliferation financing risk profiles for all clients with whom they maintain a business relationship. This obligation aligns with Section 23(1A) of the
FIA
Financial Intelligence Act, Act No. 13 of 2012
Subscribing provides access to a standardized, explicable and defendable regulatory-compliant Client Risk Assessment Tool that offers the following benefits:
Consistent Risk Profiling
Enables institutions to develop comprehensive and standardized risk profiles for clients, ensuring alignment with their institutional risk assessments and compliance with
FIA
Financial Intelligence Act, Act No. 13 of 2012
regulations.
Holistic Risk Overview
Provides an instant, centralized view of the money laundering (ML), terrorist financing (TF), and proliferation financing (PF) risk levels across your client base, identifying high-risk clients and key risk indicators.
Enhanced Risk Management
Strengthens your institution’s ability to implement a risk-based approach to money laundering (ML), terrorist financing (TF), and proliferation financing (PF) risk management.
Access to AML Training & Events
Provides easy access to anti-money laundering (AML), terrorist financing (TF), and proliferation financing (PF) training sessions and industry events.
Regulatory Updates & Notifications
Keeps you informed of key
FIA
Financial Intelligence Act, Act No. 13 of 2012
regulatory changes, compliance updates, and industry insights.
Automated Due Diligence Alerts
Generates timely prompts for ongoing client due diligence reviews, tailored to each client's risk profile as required by law.
Streamlined Regulatory Reporting
Facilitates efficient, accurate, and effective compliance reporting to meet regulatory obligations.
Flexible Pricing
Offers scalable pricing options tailored to the size of your client base and budget considerations.
Identification of Suspicious Transactions and Behaviour
In the absence of an automated transaction monitoring system, it assists with the identification of reportable transactions and behaviour.
