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Enterprise Risk Assessment

Thanks to the AML Enterprise Risk Assessment, your company will be able to identify and mitigate Money Laundering risks with an analysis based on the RBA approach. Complying with international regulations and strengthening your compliance strategy by identifying inherent risks and mitigating them within the framework of financial compliance.

Enterprise Risk Assessment AML

The Designated Non-Financial Businesses and Professions (DNFBPs) and and Financial Institutions (FIs)in various international environments are required to conduct a Business Risk Assessment (BRA). Business Risk Assessment (BRA) as part of the fight against money laundering. as part of the fight against money launderingAML).

Enterprise Risk Assessment is also known as:

- Enterprise Wide Risk Assessment (EWRA)
- Entity Risk Assessment
- Firm-Wide Risk Assessment (FWRA)
- Money Laundering and Terrorist Financing Risk Assessment (ML/TF Risk Assessment)
- ML/TF Enterprise Wide Risk Assessment

The Enterprise-Wide Risk Assessment (EWRA) is the cornerstone of the risk-based approach (RBA). Under this approach, AML policies, procedures and controls must be aligned with the results of the EWRA: the greater the risk, the greater the controls.

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Importance of Enterprise Risk Assessment.

An Enterprise Risk Assessment conducted on the basis of reliable qualitative and quantitative data ensures that DNFBPs and FIs manage their money launderingAML) and terrorist financing (CFT) risks in line with their risk appetite.

Benefits of BRA/EWRA:

Accurate risk identificationAllows companies to detect vulnerabilities in their operations and customers.
Alignment with international regulationsEnsures that organizations comply with local laws and international AML standards.
Optimization of internal controlsEstablishes controls commensurate with the identified risk levels.
Strategic Risk ManagementStrategic risk management: Helps companies make informed decisions to mitigate financial and reputational risks.

The BRA is an essential component in protecting the operational sustainability of organizations, ensuring regulatory compliance and minimizing exposure to global financial risks.

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