ML/TF Risk Assessment For Lending

Mitchell
MitchellFeburary 14, 2020

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Perform a Risk Assessment

ML/TF Risk Assessments make up the foundation of any good AML/CTF Program, bronID is here to help you get the foundations right.

A sector-specific ML/TF Risk Assessment is essential to protect your business and fight financial crime. To learn more about how to conduct a risk assessment see the blog;

Conduct an AML/CTF Risk Assessment

Ask the right questions

The bronID adviser can keep you up to date with the most relevant money laundering and terrorist financing risks relevant to your business.

Each risk assessment is tailored to your sector and business. A dynamic online ML/TF risk assessment flow will enable your business to update its risk matrix online and in real-time. Ideal for constantly evolving technology-based sectors such as lending which require increasingly strong AML/CTF systems.

Learn the ML/TF risk specific to your industry

The bronID risk methodology behind your ML/TF Risk assessment will remain up to date with the most recent recommendations to your sector, based on global compliance recommendations.

Lending Regulatory Guidance

Sector-Specific Risk Assessment Questions

The bronID risk assessment questionnaire will assist your business in understanding and mitigating the ML/TF risks immediately relevant to your sector. With sector-specific guidance, your business can be confident in its risk-based approach to AML/CTF legislation.

Here are a few sample questions included during the risk assessment process:

  • Do you accept loan repayments in cash?
  • What proportion of your business is online?
  • Is it possible to purchase your product from a third party?
bronid risk assessment

Reduce your risk of money laundering by using the recommendations and controls built into the bronID Adviser Package

During the bronID risk assessment procedure, you will have the opportunity to control and reduce the ML/TF risks posed to your business using the bronID control bank which includes techniques such as customer due diligence, PEP and sanctions screening and transaction monitoring.

Sign up to the bronID portal and begin your AML/CTF compliance journey with a bronID ML/TF Risk Assessment today!

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Mitchell
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Mitchell

A catalyst for transforming legislation and governance into easy to use software. The personified pen of bronID.

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