Businesses directly regulated under AML legislation are expected to assess the money laundering risks associated with their operations.

The assessment should consider factors such as:

• types of customers. 
• geographic locations. 
• products and services offered. 
• transaction methods. 
• delivery channels. 

The purpose is not to eliminate all risk but to ensure that businesses understand where risks may arise and implement proportionate controls.

A small local business serving long-established customers may face different risks from a company conducting international transactions involving complex ownership structures.

Following the 2026 amendments, businesses should ensure that their risk assessments adequately address dealings involving jurisdictions identified by the Financial Action Task Force (FATF) as presenting elevated money laundering risks. The definition of higher-risk countries is being updated to align more closely with FATF classifications.

For risk assessment templates, see the corporate Company Wide Anti-Money Laundering Risk Assessment and the business Business Wide Anti-Money Laundering Risk Assessment