The AML Risk Profile is designed to provide you with a high-level snapshot of the key client attributes and indicators that will help you manage AML risk and apply the required due diligence: Customer Due Diligence (CDD) or Enhanced Due Diligence (EDD).
The AML Risk Profile is made up of the following elements:
Overall Risk: The overall AML Risk score for the client. It's calculated using a weighted average of all other available risk scores.
Country Risk: The country risk score considers the client's address, nationality, birth country, and incorporation country to calculate a score. ComplyCube uses data from highly trusted sources to compute the score:
Corruption Perceptions Index
Financial Action Task Force (FATF)
Federal Bureau of Investigation (FBI)
Index of Economic Freedom
International IDEA Political Finance Database
Organisation for Economic Co-operation and Development
US Department of State
World Bank Group
World Economic Forum
Political Exposure Risk: The political exposure risk of the client. This may be calculated once the client is a confirmed Politically Exposed Person (PEP).
Occupation Risk: The occupation risk of the client. This may be calculated once the client is confirmed to be a PEP.
Watchlist Risk: The watchlist risk of the client. This may be calculated once the client is confirmed to be in any of the watchlists.
Valid risk values are High, Medium, and Low when set, or No Risk when not set.
Once a check is complete and validated, or client details are updated, ComplyCube immediately updates the corresponding client Risk Profile.