AML/CFT Risk Assessment

Aim: To introduce the concept and requirements of a Risk Assessment, in accordance with the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (the Act), and provide guidance on producing a risk assessments for a small- to medium-sized business.

Outcome: Completion of this module will allow reporting entities to be able to:

  • Provide a brief explanation of what a risk assessment is;
  • Identify the legal obligations relating to risk assessments;
  • Follow the guide to produce a written risk assessment for their business.

Abstract: How to develop a Risk Assessment, as per the requirements of the Act, is explained. Legal obligations relating to risk assessments are identified and step-by-step guidance is provided on how to produce a written risk assessment.