Company Wide Anti-Money Laundering Risk Assessment
This Template Company Wide 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 subject.
A business that is 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 is
a business which is not regulated under these Regulations and therefore is
not required to carry out a risk assessment. However, as a matter of good
corporate governance, it is sensible for all businesses to consider having
a risk assessment in place to identify and minimise the risks of money
laundering within their organisation.
Each business must consider the risk factors that their own business may be
exposed to and identify these in their assessment. This template has a list
of risks which businesses are likely to be exposed to and the possible
mitigating actions that they can take to minimise these risks. The list is
not exhaustive and is by way of example only. You must tailor these to your
specific business and expand on the risks where relevant. If you are unsure
as to the risks your business may be exposed to or how to complete this
template, you should seek professional advice.
This template Company Wide Risk Assessment is intended only as a starting
point to assist you in putting together a risk assessment.
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highlighted fields or adjust the wording to suit your purposes.
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