Risk assessment tools (RATs) are algorithms that use historical data to predict the likelihood of a person’s recidivism, or risk of reoffending. They are used in the criminal justice system to help inform decisions about bail, pretrial release, sentencing, and parole or probation supervision.
Compliance risk and regulatory requirements constantly evolve, placing increased pressure on compliance programs to expect the unexpected, proactively addressing risks before they pose a threat to the firm. Risk Assessment Tools enable firms to streamline the risk assessment process, evaluating the level of risk and documenting any remediation made.
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