Money Laundering Regulations
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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…