5.0 Introduction to Lesson 5

An organization’s ability to acquire, integrate, disseminate, and apply geospatial information is key to assessing risks and managing crises today. The need is apparent in industry sectors involving emergency services, protection, telecommunications, information services, energy, transportation, banking, financial services, water supply, and healthcare. Businesses that understand their physical and social surroundings can better assess the risks in the communities where they operate as well as the extent of their exposure. By doing so, organizations can create a safer and healthier workplace. At the same time, a business needs to identify, avoid, and plan to overcome a crisis so that it can restore some form of normalcy to its people and  holdings that serve its customers.

This lesson is intended to support other Certificates, MGIS courses, and Risk Assessment activities. The study of risk assessment coincides with the instruction of ethics in decision making, sustainability, and project management. Risk analysis and risk assessment is integral to businesses for physical security of property, lives, and products; cybersecurity; business opportunities or the denial of intrusion; planning and operations.

For the financial sector, the course specifically includes an application of GIS and geospatial analysis to Anti-Money Laundering and Counter Threat Finance.

Effective anticipation of risks and planning to mitigate threats reduces potential losses of life, property, productivity, and a business' financial value. With a geographic perspective, risk assessments include GIS management, georeferenced information, maps, and scenario-based projections of where people may be located in potential hazardous situations.

Risk management fully includes risk identification, analysis, response planning, monitoring and finally, risk response and control. For this lesson, we review potential risks to a business, crisis response, and work on an anti-money laundering case study. Consider what regulations, rules, laws, and international norms guide the conduct of employees. What higher authorities - local to global - impact a business? Using every applicable resource, plan how to mitigate threats.

Risks and Threats.

The risk of a situation involving exposure or danger is a function of threats, vulnerabilities, and potential consequences to the entity. While open to subjectivity, risk may be roughly approximated as:

Risk = f (T x V x C),

Risk is a function of the product of Threat times Vulnerability times Consequence, where

T, Threat is the possiblity of trouble, danger, hazard, or ruin.

V, Vulnerability is the exposure of an organziation or measure of the possibility to be harmed.

C, Consequence is the effect or result of an action against the organization.

Collaboration during this 2-Week Lesson Block.

During Lessons 5 & 6, you will work as individuals to analyze an AML/CTF Case Study. However, I encourage you to collaborate on examining the Case Study and learning new investigative methods of Anti-Money Launding. Prepare and submit your own assignment, cite references and discussions properly - I hope this is an interesting learning experience for you.

What is due for Lesson 5?

Lesson 5 will take us one week to complete. There are a number of required activities in this lesson listed below. For assignment details, refer to the lesson page noted.

Note: Please refer to the Calendar in Canvas for specific time frames and due dates.