How does the Risk Assessment workflow handle a high-risk transaction?
The Risk Assessment sets the baseline; each transaction is scored against the baseline plus per-transaction inputs and screening results.
The Risk Assessment sets your firm's baseline risk profile. Each transaction is then scored against that baseline plus its own inputs, and the platform reacts automatically when a transaction lands in the High Risk band.
What happens for a high-risk transaction:
- Risk score calculation. Each transaction is scored from a combination of business baseline (set by the RA), per-customer inputs (entity type, structure complexity, country exposure) and screening results (PEP hits, sanctions, adverse media).
- Visual flagging. The transaction shows as High Risk in dashboards and on the audit trail.
- Enhanced CDD triggered. The platform prompts for Source of Wealth and Source of Funds evidence - using easyAML's ECDD workflow with \~47 pre-built source types, tiered evidence requirements, and frozen snapshots on sign-off.
- Compliance Officer escalation. The CO/Senior Manager is notified and must sign off the transaction before designated services proceed.
- Heightened monitoring. The customer moves to quarterly re-screening (vs annual / 6-monthly for lower risk), and any ASIC change is flagged immediately rather than rolled up.
- SMR pathway. If anything in the underlying activity raises suspicion, the SMR workflow is pre-loaded for the CO to review and submit (3-business-day lodgement timeline, 24 hours for terrorism financing).
The firm can also manually escalate a transaction to high risk based on factors only the firm sees (overheard conversation, in-person red flag). Manual overrides are audit-logged with the user, timestamp and reason. See AUSTRAC's Suspicious matter reports page.