Company Wide Anti-Money Laundering Risk Assessment
This template is an EXAMPLE only and is intended to be a starting point for you to implement the requirements set out in the legislation and guidance. This template is designed for a low risk, unregulated business only. It is not intended to be used for a regulated business or by those involved in advising regulated entities, such as accountants.
This Template Company Wide Anti-Money Laundering Risk Assessment is designed for use by a low risk business that wishes to assess the risks of money laundering and terrorist financing to which its business may be exposed.
When a risk assessment is required
A business regulated under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, as amended by the Money Laundering and Terrorist Financing (Amendment) Regulations 2019, must carry out a risk assessment.
A low risk business that is not regulated under those Regulations is not required to carry out a risk assessment. However, as a matter of good corporate governance, many businesses may still consider keeping a risk assessment in place to help identify and minimise money laundering risks within their organisation.
What this template helps you do
Each business should consider the particular risk factors it may be exposed to and identify those in its assessment. This template includes a list of risks that businesses are likely to encounter, together with example mitigating actions that may help minimise those risks.
The list is not exhaustive and is provided by way of example only. You should tailor the risks and mitigations to your specific business and expand them where relevant. If you are unsure about the risks your business may face, or how to complete the assessment, you should seek professional advice.
A starting point for a proportionate assessment
This template is intended as a starting point to assist you in putting together a company-wide risk assessment.
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