Financial institutions are required to include geographic risk in their anti-money laundering (AML) programs. There are at least two domestic higher-risk geographic locations in the United States used for law enforcement and investigative purposes which are:
High Intensity Drug Trafficking Area (HIDTA)
High Intensity Financial Crimes Area (HIFCA)
Data Derivatives has collected all of the relevant HIDTA and HIFCA data sources and enhanced the designated states and counties into a data file that includes cities, towns, and zip codes.
The HIDTA / HIFCA data file can be easily integrated into an institution's AML program including, but not limited to know your customer (KYC), customer due diligence (CDD), enhanced due diligence (EDD), transaction monitoring, transaction monitoring, risk assessment, data visualization, ad hoc excel analysis, and other analytics initiatives.