When should the anti-money laundering risk assessment be updated?

The correct answer is B. After a merger or acquisition. Evaluating the risk scoring model and conducting the risk assessment itself may need to be performed annually, every eighteen to twenty-four months, before the launch of a new product, or when an acquisition of another financial institution occurs.

AML/CFT Compliance Programs

Question

Options

AEvery two years
BAfter a merger or acquisition
CWhen the board of directors changes
DWhen instructed to by the Financial Action Task Force

How the community answered

(18 responses)

A
6% (1)
B
72% (13)
C
17% (3)
D
6% (1)

Explanation

Evaluating the risk scoring model and conducting the risk assessment itself may need to be performed annually, every eighteen to twenty-four months, before the launch of a new product, or when an acquisition of another financial institution occurs.

Topics

#AML risk assessment#merger and acquisition#program updates#risk management

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