OUR SOLUTIONS ARE UNIQUE
The first online solution for financial crime risk assessments and mitigating actions in the world.
> 80 BEUR
Yearly cost to live up to the financial crime regulations, for all bank in EU
> 800 MEUR
Yearly cost to live up to financial crime regulations, for one large bank in EU
> 5 MEUR
Yearly cost to make a risk assessment for a large bank, without Acuminor
> 1,5 MEUR
Possible yearly saving for every product that a large bank can prevent from being misused by criminals
THE HELP IS HERE IN Q1 2019
In the beginning of 2019 we will start to provide services to following industries:
ONE SIZE FITS NO ONE
Country by country. The only way to find risks that actually are relevant. The time where one size fitted all is over.
EVERYTHING STARTS WITH A GOOD RISK ASSESSMENT
A good risk assessment isn’t only a legal requirement. It’s also necessary in order to prevent criminals from misusing your company.
When assessing ML/TF risk [...] financial institutions should analyse and seek to understand how the ML/TF risks they identify affect them; the risk assessment therefore provides the basis for the risk-sensitive application of AML/CFT measures.
WHAT WE DO
Unique solutions for risk assessments, policies and other controls
It's very easy, both in terms of technology and processes.
It doesn't take more than a few minutes to technically setup the service and make you ready for your first risk assessment. Of course you get to choose if you want access as a cloud service or as a local installation.
Our solutions are constructed in a way that only the people that need to be involved, have to be involved. It's very easy to create and modify ownership for different risks and controls in the interface. The risk owners and controls owners only see the parts that are relevant to them.
It's that easy.
As we all know, the risk assessment must be updated when needed but at least every year.
Acuminor's services is built upon the idea that risk management is a natural part of the business. No one should have to sit in never-ending workshops every year, when everything else gets suffering. Instead it's often enough to spend an hour now and then in order to keep the risk picture updated.
Risks identified in earlier risk assessments can easily be added in Acuminor's risk assessment service as an internal finding so you keep track of it.
The analysis made by Acuminor's experts is based on hundreds of open credible sources. The information in the sources are translated into product risks, customer risks, transaction risks, country risks and channel risks. In other words, all your products will be automatically risk classified. This allows you to focus on assessing the controls that exist for respective product.
Earlier it was common with commercial high-risk country lists, and they're still used to some extent. These lists are however not based on actual risks from money laundering, terrorist financing and sanctions that exist in the countries where you have your operations. Since criminality differs between different countries, it's not possible to have a one-size-fits-all list of high-risk countries.
Some countries might however constitute a generally higher financial crime risk, for example EU:s list over high risk third countries.
In Acuminor's services you get a country list that is completely unique to your business, based on hundreds of credible sources. This list, together with other parts of the risk assessment, gives you a very powerful tool to create effective risk-based controls.
If you have risks related to virtual currencies you will see this in your risk assessment. This also means that you get to read analysis made by our experts in the area, of which some have trained national and international law enforcement authorities in the subject.
Absolutely. We collect and analyse relevant legislation from all countries where our services are available. In other words, you can easily see you compliance status for each country in one place.
You're not alone, and it's not a problem when it comes to making a good risk assessment. Our risk assessment method is designed to in best case use internal data through your systems. In case such data is lacking for any reason, we use an alternative method of analysis based on criminal statistics and qualified analysis by our experts.
Regardless, you'll get good results that you can use to understand your risks in detail.
According to AMLD4, all actions against financial crime must be based on the risk assessment. One of our services is a policy that lives up to the high regulatory requirements in your countries of operations. The risk-based parts of that policy is automatically based on your risk assessment. You of course still have full possibility to edit the policy as you please.
Acuminor's services are module based and always takes outset in the risk assessment. We'll communicate what these services are when they are launched.
Great that you've invested in good technology! What the regulators now expect is that you can prove that your new systems and methods is effective against your actual risks. With our risk assessment service you'll get a powerful tool to use in the validation of your models and systems, exactly as the regulations require.
VERY HIGH QUALITY TO A VERY AFFORDABLE PRICE
Unique online solutions for risk assessments, policys and other controls.
For larger companies
For very large companies