A National Risk Assessment (NRA) can impact a financial institution's (Fl's) risk-based approach to anti-money laundering and terrorism financing by:

The correct answer is B. providing guidance on the types of customers and transactions that pose the highest risk. A National Risk Assessment (NRA) provides valuable guidance on which customers, products, services, and transactions pose the highest risk for money laundering and terrorist financing, enabling financial institutions to tailor their risk-based approach and allocate resources more

AML/CFT Compliance Programs

Question

Options

Adictating what predicate offences must be considered in the Fl's risk assessment.
Bproviding guidance on the types of customers and transactions that pose the highest risk.
Cdefining exactly what policies and procedures must be implemented.
Ddetermining the maximum fines that can be imposed for AML violations.

How the community answered

(23 responses)

A
13% (3)
B
74% (17)
C
9% (2)
D
4% (1)

Explanation

A National Risk Assessment (NRA) provides valuable guidance on which customers, products, services, and transactions pose the highest risk for money laundering and terrorist financing, enabling financial institutions to tailor their risk-based approach and allocate resources more

Topics

#national risk assessment#risk-based approach#customer transaction risk#regulatory guidance

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