- Analytics - A quantitative overview of the number of risk-factors that affect the theme score
- Data completeness* - Measure of available data to compute the risk factors that affect the score
- EFI Score - its a score for an entire assessment, as well as on the theme level, based on a data submitted to the platform
- Eventuality - A test performed on the data set which can be evaluated as either be true or false. Eventualities are mutually exclusive and applied to one risk theme for the calculation of the score. For example, whether or not the financial institution jurisdiction is at high risk for tax evasion is an eventuality.
- Export country - The jurisdiction selling goods and services abroad. For example, when an Italian entity is selling goods to France, it is exporting to France. In our report, we compare the top 5 export countries for the financial institution’s jurisdiction with the top 5 countries the financial institution is receiving transactions from.
- Functional irregularities - can be indicative of a non-existent or heavily deficient control, a sanctions match, contradictory data points, or other deficiencies identified which are to be brought to the attention of the reader of the report and prioritised for remediation
- Import country - The jurisdiction buying goods and services from abroad. For example, when an Italian entity is buying goods from France, it is importing from France. In our report, we compare the top 5 import countries for the financial institution’s jurisdiction with the top 5 countries the financial institution is sending transactions to.
- Industry median - is calculated monthly and based on internal data, can change every month
- Key risk indicators - provide an effective view on risk. In particular, risk factors associated with individual entities (e.g. adverse media, maturity), specific jurisdictions (i.e. FATF non-compliant), and specific regulatory frameworks (e.g. regulator quality, transaction reporting) form the basis of this level of assessment
- Offshore - Any jurisdiction other than the jurisdiction of the financial institution. For example, if the financial institution is in France, then any customer outside of France, such as in Germany or Spain, would be considered offshore.
Glossary Print
Modified on: Tue, 23 Aug, 2022 at 8:01 PM
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