Arctic Intelligence is raising the standard of AML, and you can help!
If you participate in their survey, you’ll receive a free version of Arctic Intelligence’s 2022 AML Benchmark Report. It only takes a few minutes to gain a wealth of information for your business.
Use this link: https://buff.ly/3rTPQES
What’s In It For Your Network?
- FREE access to the comprehensive version of the Arctic Intelligence 2022 AML Benchmark Report
- Contribute to raising global standards in AML
- Represent your industry and region in money laundering risk assessment processes
- Discover best practices and understand areas for improvement with AML governance
Some Insights From The 2021 AML Benchmark Report
Twenty-three percent of risk assessments analyzed for the report indicated that control frameworks for managing AML vulnerabilities needed improvement or had not been tested at the time of the assessment. Although 72% were rated as ‘adequate’, only 5% of risk assessment controls were rated as ‘strong.’ These findings were further supported by qualitative data, which showed that 37.5% of respondents cited ‘developing the framework’ as their top risk assessment challenge.
Other key findings included:
· 53% of companies perform an enterprise risk assessment once a year, with 25% conducting them as often as the business changes.
· 21% of respondents were unsure of how long an enterprise risk assessment actually took because it was either an external process or a fragmented internal one.
· 69% of respondents claimed that digitization had provided at least two significant improvements to their risk assessment process. These include more effectiveness in understanding AML risks and demonstrating compliance, as well as having more confidence in their risk assessment process with a centralized document repository.
Arctic Intelligence Company Overview
Arctic Intelligence is an award-winning global RegTech company that provides enterprise risk assessment software to regulated institutions to better assess, document and manage their financial crime risks. Trusted by over 250 clients globally, Arctic Intelligence technology simplifies the process of conducting enterprise-wide assessments on an organisation’s potential exposure to financial crime – specifically in the areas of money laundering/terrorism financing, bribery and corruption, sanctions, fraud, correspondent banking, modern slavery, human trafficking and wildlife trafficking. Arctic Intelligence provides solutions to replace spreadsheets and shared folders with smart technology and workflows, thereby empowering organisations of any size to operate their business with up-to-date, data-driven business risk insights and compliance programs.
Website: https://arctic-intelligence.com/
LinkedIn: https://au.linkedin.com/company/arctic-intelligence
