The objective of this course is to assist firms that are required to have implemented a risk based approach to their Money Laundering risk assessment and Customer Due Diligence (CDD) under the Money Laundering Regulations 2007.

Firms are required to document and keep base ML risk assessments and customers’ CDD records up to date.  Firms failing to do so do not have a valid basis for determining when to apply enhanced CDD and enhanced monitoring for higher risk customers.

Without a good and current understanding of what comprises the ML risk assessment and the basis that it then provides for the development of proportionate, risk based procedures and controls, those responsible for creating these basic elements of the operation of the firm’s AML regime, and for supervising their daily operation might otherwise struggle.