“I wanted to create a platform that would allow institutions that are taking demonstrable steps to be leaders in this space to highlight their efforts in a way that is quantifiable and identifiable.” To do this he teamed up with Gabrielle Haddad, whom he met on the MIT Sloan Fellows Programme. Haddad started as an M&A lawyer in New York and subsequently worked as legal officer at a non-profit fund manager in Geneva. “She faced the problem I identified from an operational perspective from an investor’s perspective,” says Jones. “It was very difficult for her to get normalized risk data on banks to assess their attention to managing illicit finance risk. This was a particular problem in more opaque markets.”

https://www.euromoney.com/article/b199687fhdbjk5/new-rating-agency-ranks-em-banks-by-financial-crime-risk