The COSO Framework

The Treadway Commission Committee of Sponsoring Organizations (COSO) is a collaborative effort of five professional organizations dedicated to assisting organizations in improving performance by developing thought leadership that improves internal control, risk management, governance, and fraud deterrence.

A risk-based strategy is a method for identifying possible high risks of money laundering and terrorist funding and developing mitigation solutions. Existing responsibilities, such as customer identification.

The identification of an organization’s business processes, followed by process-owner accountability for compliance, performance goals, and risk vulnerabilities, is the first step in risk management process improvement.