Institutional AML/CFT Risk Assessment
What this control requires
Conduct a comprehensive institutional AML/CFT risk assessment covering: products and services, customer types, delivery channels, and geographic exposure. Rate inherent risks, assess control effectiveness, and determine residual risk. Update annually and when significant changes occur. Use to inform risk-based resource allocation.
Other FATF controls
FATF-AML-001 - Implement Risk-Based AML/CFT ApproachFATF-CDD-001 - Implement FATF-Standard Customer Due DiligenceFATF-PEP-001 - Implement FATF PEP Identification and Enhanced MonitoringFATF-R10-001 - Customer Due Diligence ProgrammeFATF-R11-001 - AML/CFT Record KeepingFATF-R12-001 - Politically Exposed Persons ControlsFATF-R16-001 - Wire Transfer Originator and Beneficiary InformationFATF-R20-001 - Suspicious Transaction ReportingFATF-R26-001 - Regulatory Supervision ResponsivenessFATF-RECORD-001 - Maintain FATF-Required Records for 5 YearsFATF-SAR-001 - Maintain STR Filing Obligations to FIUFATF-WIRE-001 - Comply with Wire Transfer Requirements (Originator and Beneficiary Information)