AML/CTF Programs
1.0 - Fundamentals of AML/CTF programs 2.0 - AML/CTF program: Part A (general) 3.0 - AML/CTF program: Part B (customer identification) 4.0 - Risk assessment for your AML/CTF program 5.0 - Implementing and monitoring your AML/CTF program
 

4.3 Risk identification

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AML/CTF risk identification

 

The first step is to identify what ML/TF risks exist for your business when providing designated services. When assessing this risk you may also like to consider legal and reputational considerations. There are two risk types: business risks and regulatory risks.

 

Business risks

 

In terms of the AML/CTF Act four likely business risk categories have been identified (you may identify others depending on your business):

  • customers, including politically exposed persons (PEPs)
  • products and services
  • business practices/delivery methods
  • countries you do business in/with (jurisdictions) and different ML/TF legislation.

 

Module start

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Last updated: Friday, 28 October, 2011