Risk assessment - right from the start

If the problem isn't defined, it can't be solved: so with risk - if not specified and assessed it cannot be controlled. The risk-based approach (RBA) - a staple of anti-money laundering literature and standards for nearly two decades - positively insists on proper assessment if limited compliance resource is to be targeted effectively, and yet... organisations struggle to comply, but then it is only this year that the USA has made the RBA a regulatory obligation. Keith Nuthall explores a fundamental, persistent challenge and how technology providers are rising to it.

If the problem isn't defined, it can't be solved: so with risk - if not specified and assessed it cannot be controlled. The risk-based approach (RBA) - a staple of anti-money laundering literature and standards for nearly two decades [1] - positively insists on proper assessment if limited compliance resource is to be targeted effectively, and yet... organisations struggle to comply, but then it is only this year that the USA has made the RBA a regulatory obligation. Keith Nuthall explores a fundamental, persistent challenge and how technology providers are rising to it.