Business risk assessment

Subject persons are required to have in place a business risk assessment identifying the threats and vulnerabilities that it is exposed to and assess the likelihood and impact of the ML/FT risks.

The Business Risk Assessment allows the subject person to ensure that the current business model is in line with its risk appetite. In order to be effective, it must be drawn up using reliable quantitative and qualitative data and be regularly revised.

We have the tools and know-how to assist subject persons to draw up purposeful and relevant business risk assessments. We can also assist subject persons to manage their risk exposure. Measures are broad and vary on a case-by-case basis but may range from strengthening specific parts of the AML control framework to embarking on a structured de-risking exercise.

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