Risk Scores

Risk Score

The risk score is an independent ranking that assesses the risk of money laundering and terrorist financing for an entity.

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Your organization has most likely developed a custom formula to rank entities. In your dashboard, we give you the ability to replicate this formula or to create a custom one.

Custom Risk Score (CRS)

Agents can develop a Custom Risk Score (CRS) using our dashboard Risk Score tool.

Head over to the Risk Score tab in your dashboard:

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Here you will see a list of all your saved and currently activated CRSs. The currently active CRS is charted by default. If there is no previously saved CRSs, then no chart will appear.

CRS Tool

The CRS tool allows agents to develop a custom risk scoring formula. Once the formula is created, it can be activated and used to automatically score all entities in your dashboard, instantly.

The Custom Risk Scores tool allows agents to create a risk score formula using both pre-defined metrics (such as # of transactions), third party CRS (such as Socure), and user-defined (custom) fields (such as internal risk scores).

In the CRS tool, agents can select up to 7 variables in their scoring formula:

  • Associated Cases
  • Associated Alerts
  • Transactions
  • Cross border transaction
  • Transaction instruments
  • Age of Record
  • Associated KYC Alerts

The Socure third party verification portal as well as custom variables may be further used in the formula creation process. Custom variables are created by your developers using our APIs.

CRS Deployment

Once an agent is satisfied with their formula, it can be activated and Unit21 will begin calculating the risk score for all entities in your dashboard.
Please note, in order for Risk Scores to be calculated, you must have configured snowflake access during initial implementation. If you have any questions, please reach out to your implementation manager.

The risk scores can then be used to trigger alerts and investigate cases.

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Scores are updated weekly - every Saturday at 8AM UTC (12AM PST)

Scores can take up to 24 hours to be fully deployed.


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