What are the key themes underlying an effective enterprise wide Anti-Money Laundering (AML) risk assessment ?

An Enterprise Risk Assessment reviews an entire organisation to highlight key areas of concern deserving tighter focus.<br/><br/>

Organisations should:<br/><br/>

- Identify the money laundering and terrorist financing risks relevant to the specific organisation; and,<br/><br/>

- assess these risks to establish how they can be mitigated.<br/><br/>

Risk factors include:<br/><br/>

Customer Risk - Is the client turnover high or stable? Where are the clients based? In which sector(s) do they operate?<br/><br/>

Country / Geographic Risk - What countries or regions does the organisation focus on? Are they all equivalent for AML purposes?<br/><br/>

Products / Services / Transactions - Does the organisation accept third-party payments, funds from sanctioned individuals, crypto or anonymous sources?<br/><br/>

Channel / Distribution Risk - Such as fraudulent applications, hostile takeovers, use of introducers and intermediaries etc.<br/><br/>

Emerging Risk and Culture - the organisation's sales and compliance culture.