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Case-Scoring: Applying Risk to Suspicious Activity Case Management - 11/2008 |
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By Christopher Price, CAMS, AMLP
AML Compliance Consultant
Gary Bakker
President of Metavante
Risk and Compliance Solutions
Geff Vitale, CAMS, AMLP
AML Training Manager
Anti-money laundering (AML) programs are produced, developed, implemented, and amended based upon measurements of qualitative and quantitative risk. The measurement of risk is a regulatory requirement which is performed annually as an Institutional AML Risk Assessment. Risk measurement is also a part of an institution’s customer risk assessment process and the resulting profile-based suspicious activity monitoring. The utilization of a risk-based approach to the management of suspicious activity cases will help to identify the severity of the case and improve the efficiency of the investigative process. This paper will discuss the application of risk-based management to the review of suspicious activity cases.
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