Tag: FWRA
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Firmwide risk assessments: turn the SRA framework into a document that reflects your firm
A firmwide risk assessment (FWRA) should explain how your firm could be exposed to money laundering and terrorist financing, and what you do about those risks. It is not a generic AML statement or a form to complete once and file away. It is the firm-level foundation for your policies, controls and procedures, and it…
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When AML Risks Change, Is Your Compliance Framework Updated?
The latest AML notification addresses commercial property, cash intensive high street businesses and pooled client accounts. It demonstrates why emerging risks must be reflected across the FWRA, AML policy, CMRA and training programme.