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Generating a - Focus Technology Group
2 acams today | march/april 20072 acams today | march/april 2007 BackgroundAssessing customer risk and assigning risk scores to your customer portfolio are rapidly becoming requirements at most financial institutions. As a result, a key issue has become the practicality of im-plementing such procedures. Is there a practical and cost-effective way to gener-ate a risk score for each customer one that changes dynamically with changes in customer characteristics and transaction behavior?The Federal Financial Institutions Examination Council Bank Secrecy Act Anti-Money Laundering (BSA/AML) Ex-amination Manual, issued in June 2005, contains two separate indices that provide topical guidance on risk-rating customers: Appendix I: Risk Assessment Link to the BSA/AML Compliance Program Appendix K: customer Risk Versus Due Diligence and Suspicious Activ-ity MonitoringAn institution s AML specialist is a piv-otal player in originating, maintaining and strategically utilizing risk ratings for com-pliance and operational purposes.
2 acams today | march/april 2007 Background Assessing customer risk and assigning risk scores to your customer portfolio are rapidly becoming requirements at most
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BSA/AML RISK ASSESSMENT, Risk assessment, AML Rule Tuning: Applying Statistical and Risk, Importance of AML Model Governance and, Risk, COURSE CATALOG, ASSESSMENT, MONEY LAUNDERING, Anti-money laundering, Financial Crime: How Financial Institutions, Financial Crime: How Financial Institutions Can Mitigate Risk