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AML Risk Assessment Evaluation

Evaluate your AML risk assessment methodology

12 questions • 8-10 min

This assessment evaluates the effectiveness of your organisation's AML/CTF risk assessment approach. It covers methodology, risk categories, and data quality, helping you identify areas for improvement in your risk-based approach.

Instructions

  • Answer all questions honestly based on your organisation's current approach
  • Select the option that most closely matches your situation
  • Complete all sections to receive a comprehensive evaluation
  • Your answers are confidential and not stored on our servers

About This Self-Assessment

This tool helps institutions evaluate their ML/TF risk assessment framework based on common regulatory expectations and industry best practices (e.g., FATF Recommendations, risk-based approach). It covers key areas like risk assessment methodology, risk categories and factors, and data sources for risk identification.

Disclaimer: This is a self-assessment tool for informational purposes only and does not constitute legal or regulatory advice. Your responses are processed locally in your browser and are not stored or transmitted. For a comprehensive review, consult with compliance experts or request a personalised demo of iTrack.

Section 1 of 3•Risk Assessment Methodology
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Assessment Sections

Risk Assessment Methodology

This section evaluates your organisation's approach to conducting AML/CTF risk assessments.

How would you describe your organisation's approach to ML/TF risk assessment?

Comprehensive and tailored to our specific business model
Risk assessment methodology addresses all relevant risks with business-specific adaptations
Structured approach using standard industry methodology
Well-defined methodology based on industry standards without significant customisation
Basic framework covering essential elements
Simple methodology covering minimum requirements without detailed analysis
Informal or limited approach
Ad hoc or minimal methodology without structured framework

Does your organisation conduct an enterprise-wide AML risk assessment?

An enterprise-wide assessment considers risks across all business lines, products, and geographies.

Yes, comprehensive assessment conducted regularly
Full enterprise assessment with consistent methodology across all areas
Yes, but with limited scope or frequency
Enterprise assessment conducted but with gaps in coverage or timing
Partial assessment of major business areas only
Assessment of main areas but without comprehensive enterprise view
No enterprise-wide assessment conducted
Lack of coordinated assessment across business units

How frequently does your organisation update its AML/CTF risk assessment?

Continuous process with formal annual review
Ongoing risk monitoring with structured annual reassessment
Annually or when significant changes occur
Regular annual review with ad hoc updates for major changes
Every two years or upon regulatory requirement
Less frequent formal reviews with some reactivity to external drivers
Infrequently or on an ad hoc basis
Irregular updates without structured review cycle

How does your organisation use the results of its risk assessment?

Comprehensive integration into policies, procedures, and resource allocation
Assessment results systematically drive all aspects of AML program
Substantial influence on major program elements
Results influence key decisions but not fully integrated across all areas
Limited application to select program areas
Some connection between assessment and program but inconsistently applied
Minimal usage or primarily for documentation purposes
Assessment conducted primarily for compliance without meaningful impact
Section 1 of 3