The International Compliance Association (ICA), a leading professional body for the compliance community, has launched an enterprise-wide risk assessment tool to help its members better assess, document, and manage financial crime risk.
According to Arctic Intelligence’s AML Industry Benchmark Report 2021, 1 in 4 risk and compliance professionals say rolling out and managing the risk assessment process is a challenge, while 53 percent confirm they conduct risk assessments just once a year. The process takes up to six months to complete, according to 68 percent of respondents.
