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  • Business Risk Assessments

Business Risk Assessments

The business risk assessment (BRA) lies at the heart of the risk-based approach underpinning current AML/CFT regulatory frameworks. The BRA is a regulatory obligation that has been drawing increased scrutiny by supervisory authorities.

 

The BRA enables organizations to develop a thorough understanding of the inherent and residual ML/FT risks present in their customer base, products, delivery channels and services offered and the jurisdictions within which they or their customers do business.

 

The BRA is considered as one of the foundations of the AML/CFT framework. BDO can help organizations by facilitating the identification, assessment and understanding of their AML/CFT risk exposure in order for them to be able to take appropriate mitigating steps to align residual risk exposure with their risk appetite in line with this recommended approach.

 

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