What is the Money Laundering Risk Assessment Tool?

The Money Laundering Risk Assessment Tool (MLRAT) helps organisations to identify, assess, mitigate and manage money laundering and terrorism financing risks across different dimensions and over 300 different risk factors by providing a standardised process for performing risk assessments on the core requirements of the AML/CFT program and provides a graphical depiction of a risk matrix, depicting the areas of higher risk, highlighting focus areas. This helps organisations in designing, implementing and maintaining robust policies, procedures, systems and controls to reduce these risks.

To find out more about the key features and benefits of the Money Laundering Risk Assessment Tool, click here to learn more.

Solution Overview

The Money Laundering Risk Assessment Tool contains over 300 different risk factors which are organised across different risk categories:

  • Internal organisational context - company structure, operational functions, nature of business activity, commitment to combating money laundering activity and communications
  • Internal controls - risk assessment, policies and procedures, training and awareness, monitoring and surveillance, governance and oversight
  • Customers - customer types, customer characteristics, watchlist and politically exposed person (PEP) screening controls, customer due diligence and enhanced customer due diligence
  • Products - product types and product characteristics
  • Channels - domestic and/or international distribution channels for products and venues for gaming, hotel, pub and club operators
  • Jurisdictions - over 260 countries and territories and over 25 reliable and independent sources (based on a summarised view of the country risk assessment).

 

Click here to enlarge diagram.

How it works – get started in 4 easy steps!

Configure Model

Use out-of-the-box or tailor to suit your requirements – adding risk factors, changing scores or weightings between categories is easy!Learn more

Create Assessment

Assess the inherent risk (likelihood x impact) and assess effectiveness of any mitigating controls across 300+ different risk factorsLearn more

Generate Report

Generate a PDF snapshot report for audit purposes containing data analytics, observations and recommended actions.Learn more


Pricing

Our cloud-based pricing model recognises that AML/CFT obligations apply to a diverse range of businesses from small owner-operators to multi-national organisations and is tiered based on either the number of employees or annual revenues (whichever is higher), with 5 different annual license plans.

All prices are in USD$ and cover the annual license fee, hosting and support.

  • Red
  • $1999yr
  • 5 Employees OR
  • $250k Revenue
  • Bronze
  • $3999yr
  • 6-25 Employees OR
  • $250k-$999k Revenue
  • Silver
  • $9999yr
  • 26-100 Employees OR
  • $1m-$5m Revenue
  • Gold
  • $29999yr
  • 101-999 Employees OR
  • $5-$10m Revenue
  • Platinum
  • $49999yr
  • 1,000+ Employees OR
  • $10m+ Annual Revenue

Additional user licenses can be purchased (at any time) for just USD$299 per user, per year.

Our non-hosted pricing model is tiered and priced in the same manner but is only available to Platinum clients.

There is an additional annual premium of 30% added as a maintenance and support fee, which is designed to cover the initial installation, software upgrades and base level technical support (which can be scaled as required).

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Companies we have worked with

In the media

Our subject matter experts are recognised as thought leaders in financial crime prevention and are regularly featured in leading GRC publications showcasing our knowledge and experience. We often present at conferences and have done our share of webinars too!