This video will help you understand the key concepts surrounding the AML Business Risk Assessment (BRA), which is also known as the Enterprise-Wide Risk Assessment, Firm-Wide Risk Assessment, Entity-Wide Risk Assessment, or simply ML/TF Risk Assessment.
- The need for AML Business Risk Assessment (BRA)
- Risk-Based Approach
- Risk appetite
- Risk Factors to consider while performing EWRA
- The concept of gross risk and how to arrive at it
- Evaluation of controls and their effectiveness
- The concept of net risk or residual risk and how to arrive at it
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