Go!Risk is the Risk scoring platform (web based) allowing you to score each of your customer against the risk of AML/CTF and identify customers requiring Enhanced Due Diligence (EDD) due to their high risk of AML/CTF. Go!Risk uses your own defined scoring algorithm (if it exists) to build the risk factors that are going to be used to score your customers. In case you do not have yet a scoring algorithm, Algoreg support team can help you build the risk factors based on relevant criteria in your business domain. The risk factors can be based on any customer information. Go!Risk will score your customers on a defined schedule. Each customer will then be assigned:
  • a risk level (Low, Medium, High) based on the risk factors that you will have defined
  • a status indicating any action to be taken with regards to the customer
The current available risk levels are:
Risk levelDescription
LowThe customer presents a Low risk of money laundering based on the risk factors defined in the system
MediumThe customer presents a Medium risk of money laundering based on the risk factors defined in the system
HighThe customer presents a High risk of money laundering based on the risk factors defined in the system
UndefinedThe risk level could not be determined. This can be due to:
  • information missing in the customer record
  • wrongly formatted information in the customer record
  • risk factor used for scoring does not contain the value indicated in the customer record |
The current available status are:
StatusDescription
PassedNo need for further verification. The business relationship can be pursued. Note: status is set to “Passed” automatically if the risk level is Low
PendingThe review is in process. No decision yet
RefusedThe business relationship should not be pursued
Action requiredThe customer needs to be reviewed
Passed 1 monthThe business relationship may be pursued but should be reviewed in 1 month.
Passed 3 monthsThe business relationship may be pursued but should be reviewed in 3 months.
Passed 6 monthsThe business relationship may be pursued but should be reviewed in 6 months.
Passed 12 monthsThe business relationship may be pursued but should be reviewed in 12 months.
Passed 24 monthsThe business relationship may be pursued but should be reviewed in 24 months.
Passed 36 monthsThe business relationship may be pursued but should be reviewed in 36 months.
System ErrorThe risk scoring could not be performed. This can be due to information missing in the customer record, wrongly formatted information in the customer record, risk matrix used for scoring does not contain the value indicated in the customer record
The system automatically put back the status to Action required after the indicated number of months when the customer has one of the Passed N months enc_U2FsdGVkX18xDK4wDCaaGd5ziD9GEP+bKmYcumQrY9w=_enc
To get started with the Risk Factors, jump to Risk factors configuration page.