Themis, a provider of anti-money laundering software, has released a supply chain risk assessment tool that allows firms to map high-risk geographies and sectors, and possible touch points of financial crime including fraud, money laundering and terrorist financing, modern slavery and human trafficking, and bribery and corruption.
The risk assessment tool helps firms visualise invisible threats and understand specific financial crime threats they are exposed to. It also identifies regulatory and financial crime issues in the supply chain, helping firms stay on the right side of recent and upcoming regulation and legislation including the EU Corporate Sustainability Due Diligence Directive, the EU import ban on goods produced with forced labour, and the Financial Conduct Authority’s (FCA’s) SYSC-8 Rules for general outsourcing requirements.“In a globalised society where the majority of companies and consumers are connected to an international supply chain, organisations run a far greater risk of exposure to financial crime,” says Dickon Johnstone, CEO at Themis. “Our supply chain risk assessment is a great tool for companies trying to understand the breadth and depth of their supply chains, and the risks they pose, in a coherent way.”
Themis risk management software provides financial crime risk assessment capabilities, helping firms identify and assess specific financial crime threats the business is exposed to, the relative strengths and weaknesses in anti-financial crime governance, systems and controls, and that of suppliers and third-parties. It also provides insight into how a firm compares against local regulatory requirements and international best practices.
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