Determining Customer Screening Risk

Determining customer screening risk is the cornerstone of effective financial crime prevention. Our tailored risk assessment methodologies enable institutions to pinpoint potential threats, enabling proactive measures to mitigate risks, safeguard assets, and uphold regulatory compliance standards.

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Determining Customer Screening Risk

SQA Consulting deliver a suite of products and services to help address screening risk, for Sanctions, PEPs, and Adverse Media. Some of the biggest corporate fines in history have been levied at institutions that have failed to address basis issues with compliance to economic sanctions, prioritising profit over – particularly American – governmental foreign policy objectives.

There are many formulas for risk. For determining customer screening risk we believe this one works best.

  • The Probability associated with any vulnerability in customer screening is determined by the SQA Data Profiler which will identify how likely a vulnerability could be exploited.
  • The Threat of Sanctioned individuals and entities is global but will be enhanced in certain geographies and with certain types of products. The SQA Country Risk Index will help understand geographic threat. The SQA CTRP file and SQA Red Flag List will help address it.
  • The Vulnerability is determined by the SQA Sanctions Assessment Centre. It will identify areas of relative weakness within screening.
  • The Consequence is determined by your regulator, the consequence for Sanctions are very significant, and could include: substantial fines, removal of banking license, banking monitors, and even criminal prosecutions. SQA Training services will help you understand your regulator consequence.

Our objective is to enable the financial crime community with the tools that they need, and make the world a safer place to do business in.

Please download our brochure for more information, or just get in touch and find out how we can work together.

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