Risk Appetite

Financial Institutions and businesses need to establish and communicate their risk appetite to ensure they are taking appropriate measures to prevent money laundering. This can involve assessing risk associated with different customers, transactions and geographic regions and then implementing policies, procedures and controls to mitigate those risks to an acceptable level. By defining their risk appetite, organisations can strike a balance between conducting legitimate business and preventing illicit financial activities.

Discover more by reading our blog Unlocking AML Red Flags: Detecting and preventing money laundering