Anti-Money Laundering Risk Assessment Template

Company Wide Anti-Money Laundering Risk Assessment

CO.CEP.05

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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