The main stages of developing a risk-based approach include:

1. Legislative Requirements Assessment: Explore current legislation and regulatory requirements for AML/CFT to understand the key risks and obligations for your organization.
2. Risk Identification: Identify key risks associated with customers, products, operations, and geographies. It is essential to consider the type of business and its specific characteristics.
3. Risk Classification: Implement a system for classifying customers and transactions by risk level (low, medium, high) based on identified criteria such as geographic factors, customer type, and transaction volumes.
4. Development of Policies and Procedures: Develop internal risk management policies that define measures for each risk level, including enhanced measures for high-risk customers.
5. Process Automation: Implement technological solutions to monitor transactions and automate risk assessments, allowing timely responses to suspicious transactions.

We will develop a risk-based approach for your business, which includes a detailed assessment of legal requirements and identification of key risks related to customers, transactions, and products. We will create a system for classifying clients by risk level, develop policies and procedures to properly monitor and manage these risks, and implement automated IT solutions to monitor transactions and identify suspicious activities. Additionally, we will provide training to your staff on the effective application of this approach and offer tools to continuously monitor and adjust risk factors according to changes in business and legislation.