In response to recent amendments to anti-money laundering legislation worldwide, the BakerPlatt Group last week announced the launch of a new online service to help finance professionals assess how well countries and territories are meeting international rules.
The new service, launched as the KYC360° Factbook, has been designed to take into account the increasing demands placed on organisations to follow a risk-based approach to money laundering prevention.
Stephen Platt, Chairman of the BakerPlatt Group, explained that:
"The idea of the new online service is to assist firms and organisations to comply with their anti-money laundering obligations by making it easier to make subjective assessments of country risk."
"KYC360° Factbook covers every country and territory in the world, and its online nature means that entries are automatically updated when changes are implemented."
The service includes Financial Action Task Force evaluations of individual territories, each country’s links to Financial Crime Units and regulators, and details of legislation and other specific information which assists in assessing a country’s compliance to anti-money laundering rules.
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