ML / TF Risk Assessment

To grow your business successfully, you must know and understand the risks it faces. Traditionally, businesses focus on liquidity, operational and IT risks, but identifying and managing risks related to money laundering and terrorist financing is critical for the financial sector.

The assessment of money laundering and terrorist financing risk should be based on data about the customers, the geographies involved, the products, services and operations you offer, and the service delivery channels. The ML/ TF Risk Assessment report must be written, and its results must be presented to the management board or the supervisory board. If any deficiencies are identified, a remediation plan must be prepared and approved by the management board, or the CEO. The implementation of the remediation plan must be ensured.

It is also a must to have a written procedure for the risk assessment.

We can help by:

– creating ML / TF Risk Assessment procedure,

– reviewing and updating existing ML / TF Risk Assessment procedure,

– performing ML / TF Risk Assessment.

More services:

ML / TF Risk Assessment

Internal Policies, Procedures and Controls

Compliance Officer and AML Team 

Independent AML Audit and Testing

AML Training