AML legislation requires that every Reporting Entity institute and document an independent review of their risk assessment to test its effectiveness, at least every two years. Most financial entities choose to conduct the evaluation every year to be consistent with upper-range industry practices, and regulatory guidance.
Williams McGuire performs rigorous risk assessment effectiveness reviews based on the organization structure, business lines, risk experience and statistics, legislative requirements and regulator guidelines; research and statistics from authoritative sources; organizational experience; contemporary money laundering and terrorist financing trends and typologies; and empirical analysis.
Contact Williams McGuire today for more information on how we can help you with your Risk Assessment Effectiveness Review.
AML legislation requires that every Reporting Entity institute and document an independent review of their risk assessment to test its effectiveness, at least every two years. Most financial entities choose to conduct the evaluation every year to be consistent with upper-range industry practices, and regulatory guidance.
Williams McGuire performs rigorous risk assessment effectiveness reviews based on the organization structure, business lines, risk experience and statistics, legislative requirements and regulator guidelines; research and statistics from authoritative sources; organizational experience; contemporary money laundering and terrorist financing trends and typologies; and empirical analysis.
Contact Williams McGuire today for more information on how we can help you with your Risk Assessment Effectiveness Review.