AML scenario coverage review

Control Design Assessment (CDA)

Procedures evaluating whether the control is designed adequately.

1. 1.Obtain and read the scenario coverage review procedure; confirm it requires mapping monitoring scenarios to current products and typologies at least annually.
2. 2.Confirm the process requires new products to be assessed for scenario coverage before or shortly after launch.

Control Operating Effectiveness (COE)

Procedures evaluating whether the control operated over the testing period.

1. 1.Confirm the most recent annual coverage review was completed and covers all current products.
2. 2.Select products launched in the period and confirm each was assessed for monitoring scenario coverage.
3. 3.Confirm gaps identified in the review were remediated or risk-accepted with documented approval.

Linked risks

• AML monitoring coverage gapmitigation 3

Framework mappings & latest test