Arctic Intelligence is currently conducting their annual AML Insights survey. Taking part in the survey will give you full access to the paid version of their AML Benchmark Report.
Some insights from the 2021 AML Benchmark Report include:
- 53% of companies perform an enterprise risk assessment once a year, with 25% conducting them as often as business changed.
- 21% of respondents were unsure of how long an enterprise risk assessment actually took, because it was either an external process or a fragmented internal one.
- 69% of respondents claimed that digitisation had provided at least two significant improvements for their risk assessment process. These include more effectiveness in understanding AML risks and demonstrating compliance, as well as having more confidence in their risk assessment process with a centralised documentation repository.