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Reputational Risk

Reputational risk refers to the potential harm that a financial institution or organisation may face due to negative publicity, loss of public trust or damage to its reputation as a result of involvement in money laundering or failure to prevent money laundering activities. Banks and other financial institutions are especially vulnerable to reputational risk because they can become a vehicle for, or a victim of, illegal activities perpetrated by customers.

SmartSearch can help institutions such as these protect themselves with solutions such as Know Your Customer and digital compliance checks.