A Standardised, Automated Solution to Money Laundering Risk Assessments

Based on a methodology designed by public and private sector AML experts and mapped against local and international standards, COMSURE’S Risk Assessment tool (iTRACKRisk) is a web-based solution that delivers a comprehensive, automated risk-based reportable profile of an institution’s products, services, geographies and customer entities through a flexible and scalable platform for institutions of all sizes.

COMSURE’S Risk Assessment was designed in response to the outpouring of requests from COMSURE’S clients and associates to develop a trusted, standardised means to measure, understand and explain an institution’s money laundering risks.

COMSURE’S Risk Assessment Addresses Your Needs By:

• Establishing AML standards based on global best practices and the latest guidance, and regulation from authoritative sources world-wide;

• Providing Automation which aggregates multiple risk categories and provides seamless updates to address any regulatory changes;

• Utilising qualitative and quantitative data features which score risk and provide a comprehensive money laundering risk profile;

• Creating presentation ready reports, charts and tables, allowing you to clearly communicate your risk to stakeholders including regulators while eliminating the need for cumbersome manual reporting; and

• Benchmarking and comparative reporting, providing a framework for future AML standards

Further to the above you can also verify your risks:

• iTRACKRisk also offers automated Sanction, PEP and other Market Risk screening (iTRACKSanctions) through the use of open sourced market risk data such as World-Check / Dow Jones

Summary

Key Features

Comsure’s cloud based Anti-Money Laundering/Combating the Financing of Terrorism (AML Risk) as well as Client Relationship Risk Assessment and Data Screening Tool (iTRACKRisk) allows users to risk assess their clients in line with AML requirements as required by international regulatory bodies (Wolfsburg guidance) (FATF guidance) as well as those adopted locally.
Simply, iTRACK provides a bullet proof system to allow firms demonstrate to “Regulators” the robustness of their AML systems including:

• Client Take On;
• Verification – this is where iTRACKSanctions fits in – it can be run as a standalone offering or part of iTRACKRisk (see below);
• Risk Assessments;
• Monitoring – this is where iTRACKSanctions fits in – it can be run as a standalone offering or part of iTRACKRisk (see below);
• Management reporting (e.g. Pie/Bar summary graphs);
• Reporting (Inc SARS);
• Record Keeping; and
• Monitoring.

As an enhancement to the core functionality of iTRACKRisk, Comsure can also offer data screening through APIs into Sanction data (OFAC, UN, EU*) and Politically Exposed Person [PEP] [and other high risk information] data through a dedicated matching engine and Data suppliers such as:

• World-Check; and or
• Dow Jones

[please note we can if so requested work with other data suppliers if so directed].

iTRACK Key Benefits

1. Screen clients against UK, EU, UN and OFAC Sanction lists
2. Usable and accessible from anywhere in the world
3. Web-based solution
4. Cost effective
5. Scalable and flexible
6. Secure
7. Fully customisable

iTRACK Setup

1. Can be set up in 24 hours
2. Email support
3. Transparent pricing for add-ons e.g. sanction screening

iTRACK Main Features

1. Risk calculations are based on many criteria including:
   1. Client type and activities
   2. Country
   3. Product
   4. Delivery risk
   5. Basic reporting
2. Scanned verification documents can be held
3. Ability to save risk score in PDF & save online or on your own CMS
4. Easy to segment and partition data
5. Ability to make a unified change to historic client risk scores where a risk changes across the client base e.g. a country goes from low to high
6. Multi-user function for risk scoring
7. All you require to run the software is an Internet connection and browser
8. Option to store your Calculator record on Comsure’s secure client dedicated server (‘iCOMPLI’) or on your own server
9. Every aspect can be adjusted to your own needs
10. Custom reports can be added

iTRACK Advanced Features

1. Identification records (e.g. name, address) can be uploaded and saved
2. Link onto other client data housing systems to allow downloading of data rather than double-digit entry
3. Risk assess associated legal structures underpinning the client relationship
4. Analyse risk ratings for individuals across complex structures
5. Create other risk assessments such as Bribery risks
6. Can be linked to your own AML polices and procedures
7. On-line secure reporting (MLRO) system
8. Extensive tailored dashboard reporting

iTRACK is Comsure’s bespoke AML RISK CALCULATOR AND TRACKER with the added benefit of an online Financial Sanction screening option. iTRACK has been designed to provide a cost-effective, secure and compliant solution for those managing AML/CTF risk. The software has been developed in collaboration with I.T. specialists, ensuring its suitability to the market. iTRACK can be tailored to meet your specific business requirements to help you comply not only with your local regulations but your own policies and procedures. It can be implemented quickly, effectively and efficiently.