Risk Data Services
Geographic Risk Data—Updated Quarterly and Format Flexible
At AML Partners, our Risk Data Service provides updated risk information pertaining to the location of your potential clients. Our service includes providing country, High Intensity Financial Crime Area (HIFCA) and High Intensity Drug Trafficking Area (HIDTA) risk data. Processing this information will allow you to make smart decisions and, with the most current information at your disposal, you will be able to adjust quickly to alleviate potential operational hazards and establish internal controls that mitigate the risk that these geographic concerns present to you.
Our experience in this field is what sets us apart from the competition. By using best practices that we have developed over the years, we evaluate all ISO countries for their AML risk. Once per quarter, we reassess geographic risk (countries, HIDTA, and HIFCA) and then send it to you in whichever format you require. For users of our SURETY-CDDTM on-boarding system, we upload each quarterly reassessment directly into the system for you.
As all are aware, geographic concern is one of the three major categories that every risk assessment must include, according to the Federal Financial Institution Examination Council’s Manual (i.e., the FFIEC Manual). Our Risk Data Service gives you complete risk data for that risk category. For the country risk, we provide you with a score from zero to one hundred. For HIDTA and HIFCA, we provide a score of zero, fifty, or one hundred. Zero means that a particular ZIP code is not on either the HIDTA or HIFCA list; 50 means that ZIP code appears on either the HIDTA or HIFCA list, and a score of 100 means that ZIP code lies within a county that appears on both the HIDTA and HIFCA lists.
Our process includes converting all HIFCA and HIDTA counties into zip codes, which can then be entered into a spreadsheet and ranked according to risk. This is the most effective way to quickly identify the riskiest areas to do business and can help you determine where to proceed and which locations to avoid. This service is efficient and cost effective, as it only requires you to pay one low quarterly-invoice price.