Integrated tool for ML/TF risk assessment
Identifying and assessing the level of money laundering and terrorism financing
(ML/TF) risk to your business or organisation is the cornerstone of your AML/CTF Program.
Because you understand your business better than anyone else, you are in the best position to
identify and assess the level of ML/TF risks it faces.
bronID provides you with the tools and methodology to evaluate these risks efficiently. Answer a set of questions, and our algorithms will combine the answers you provide with our collection of industry research and regulatory guidance. As a result, you will get your risk assessment right away. No need for hiring consultants or going back and forth with emails. You can refresh this process as often as your business changes and evolves.
Mitigation strategies to reduce ML/TF risk
Once you assess the ML/TF risk your business or organisation faces, you need to develop appropriate measures and controls to protect your business from being exploited by criminals. bronID provides you with a Control Bank that includes best practice measures and controls. The controls are ranked according to the appropriateness for the ML/TF risks your business is facing and the assumed effectiveness based on industry research.