Meet LaRA – Latona Risk Analysis System

We are proud to introduce you LaRA – Latona Risk Analysis System for Customs Authorities.

LaRA is designed and built as an intelligent platform for enhanced analysis of risk in the trade of goods across borders. It is easily integrated into different customs operations to support trade facilitation, national security, public safety, and revenue collection. With the support of sophisticated technologies, the system delivers insights for strengthening Customs Administrations capabilities. It also improves visibility, agility, and control over operations.

How does LaRA function?

LaRA supports customs organizations in identifying Risk Areas, dynamically configuring Risk Profiles and Indicators, and applying appropriate measures to handle identified risks. Management of processes like Risk Profiling, Risk Assessment and Analysis, and Risk Evaluation is done from one secure place.

The system facilitates the process of validation and completeness of the full trade chain documentation. Furthermore, it performs analysis of different types of pre-arrival documents. Among them are Advance Cargo information, Entry Summary Declaration, Arrival Notification, Pre-loading, etc. It also ensures a Post Control Risk Analysis.

LaRA takes in consideration the UCC risk management system requirements, the ICS2 specifications, as well as the WCO Security Standards. Hereby, customs administrations take advantage of the most innovative risk analysis methods and models and make a step towards higher security and enhanced revenue collection.

Compatibility of the Risk Analysis System

LaRA consists of several modules. They support customs authorities in competing more effectively with illicit trade and addressing the wide variety of existing and evolving threats. Part of them are  Risk Profiling, Risk Assessment, Risk Blacklisting, Risk Analyzer, Random Selection, Enhanced Risk Analysis, Data Analytics and Executive Reporting, Data Mining; Inductive, Deductive, and Predictive Analysis.

Furthermore, LaRA ensures the full cycle of Risk Management processes (Risk Profiling, Risk Assessment, Risk Analysis, to Risk Evaluation) and the result of each process supplements the next one. In addition to the Real-time comprehensive Risk Analysis, the system provides Risk Rating, Dynamic configuration and customization, and User-friendly dashboards. On top of that, LaRA ensures advantages like Proactive Risk Management, Strict Access control, Compatibility, Friendly UI design, Flexibility.

Benefits of LaRA

By implementing LaRA, customs administrations undoubtedly gain the following benefits:

• Extended automation of Risk Management processes;
• Exceptions detected and a response provided immediately in real-time;
• Reduced time for Risk-related operations and control;
• Improved effectiveness in addressing the Identified Risk;
• Accelerated reporting and rapid (less subjective) decision-making at all management levels;
• Facilitated analysis of data and information carried out by experts working on Risk;
• Increased revenue collection;
• Strengthened trade and border security, as well as increased visibility of operations;
• Ensured compliance with the UCC requirements.

For more details and information, you can check the Latona Risk Analysis System page and/or request a demo.