where the risk is so high, no dealings of this type will be
performed by the company. Examples include shell bank customers, or
sanctioned geographic regions e.g. Sudan or Iran
Risk: significant risk exists, so enhanced controls are required
e.g. enhanced monitoring and customer due diligence. Countries noted
for drug trafficking, or corruption for example might be high risks,
as might customers who are PEPs, and products such as correspondent
and private banking.
risk: more than just a standard risk of money laundering, and so
merits additional controls.
(or standard) risk: normal business rules apply, often domestic
customers and FATF member countries are considered low risk.