Understanding the relative risk of doing business with another country has never been so fundamental to financial institutions.
Rather than taking a blanket approach to risk, it is now necessary to maintain a competitive advantage by tuning your risk assessment to focus on where the risk is greatest.
We all have impressions of how risky other countries are, based on anecdotes, news stories & personal prejudice. However our first impressions are perhaps not the best guide to driving risk assessments & the world is so diverse & hard to appreciate, that we are unlikely to have the first-hand experience of many countries.
At SQA Consulting we have developed a Country Risk Index for every country in the world, which provides the relative risk rating for each of those countries. It can easily be tuned to focus on the type of risk-relevant for the task at hand, for example, sanctions risk, EDD, PEPs, etc.
By tuning your systems to focus where risk is greatest, you can turn around from spending 90% of your resources on low risk, to putting your effort on high risk.
Get in touch via aml-prevention.products@sqa-consulting.com for more information.
Focus your resources in your high-risk areas.
