top of page

What is a basic worked example of Enterprise Risk?

Risk Number: RA1<br/><br/>

Risk Type: Customer Risk<br/><br/>

Sub-Risk Type: An applicant is, or becomes, a politically exposed person (PEP) which could create a risk of exposure to the proceeds of corruption.<br/><br/>

Inherent Risk: The risk is that a PEP uses our services to launder the proceeds of corruption obtained via the abuse of their political position.<br/><br/>

Inherent Risk Rating: 7/10<br/><br/>

Controls: Our organisation uses a service provided by PassFort automated via Dow Jones to screen applicants and clients against PEP lists. We carry out continuous monitoring on high-risk clients and PEPs undergo monthly re-screening against the updated lists. Where a PEP is identified, we undertake enhanced due diligence measures and seek additional information to better judge whether the client presents a higher risk.<br/><br/>

Residual Risk Rating: 3/10

bottom of page