Primary source company intelligence via Know Your Business (KYB) Solution



Use our free risk assessment tool to identify and evaluate the ML/TF risk posed to your business or individuals/companies that you conduct business with, taking into regard its nature, size and complexity.

What is a Risk Assessment?

A money laundering and terrorism financing risk assessment allow a business to identify and assess the level of risk posed on that business, daily. Conducting an ML/TF risk assessment is a critical part of the AML/CTF program.

A business will never have zero ML/TF risk. There will always be a level of risk and this risk is referred to as the inherent risk to the business.

Risk Assessment

NameScan Free Risk Assessment

NameScan provides a free risk assessment that allows you to understand the current ML/TF risk posed to your business. This assessment will take you about 15 minutes to complete and is completely free. This self-assessment asks questions based on your current AML/CTF program, under current legislation. Once completed you will receive a report outlining the risk of your current processes, allowing you to analyse and modify your current AML/CTF program.

If you are interested in a more comprehensive risk assessment, with the opportunity to consult with an ACAMS graduate please get in touch with us using the link below.

Talk to a Consultant
Risk Assessment
Conduct Risk Assessment

Why Conduct a Risk Assessment?

Conducting a risk assessment allows a business to identify weakness in their AML/CTF program. This is a key step to comply with AML/CTF regulations, as they change constantly to keep pace with new vulnerabilities arising within the industry.

When conducting a risk assessment there are four elements to consider:

- The type of customer the business engages with

- The type of product or service the business provides

- How the business provides that service or product

- The domestic and overseas jurisdictions the business operates within

A risk assessment needs to be conducted in a scheduled manner. This will allow the business to identify their ML/TF risk regularly and implement a protocol to limit the risk as best possible.

Reviewing Your ML/TF Risk Assessment

The methodology used to conduct the risk assessment must be flexible and able to adapt to the changes that affect your risk level. To ensure a businesses risk assessment is current, the ML/TF risk must be reassessed whenever the following occurs:

A new product or service is provided
A new way is used to deliver that product or service
New technologies are used to provide a new or existing, product or service
Business is conducted within a new jurisdiction
Reviewing Risk Assessment

What are the Steps
to Implementing an ML/TF Risk Assessment?

There are key steps that a business must follow when looking at implementing a risk assessment program.

Identify the risk

Identify the risk

Assess and measure the risk

Assess and measure the risk

Apply controls

Apply controls

Monitor and revise the effectiveness

Monitor and revise the effectiveness

Enquire about the Pricing for Our AML Consulting Service

Work with our accredited consultants to assess the money laundering and terrorism financing risk to your business.