AML Risk

AML risk refers to the potential for an organization to be exploited for money laundering activities. Factors contributing to AML risk include customer profiles, transaction types, geographic regions, and business sectors involved. Organizations assess their AML risk to implement appropriate measures for mitigating exposure and aligning with regulatory standards.

Managing AML risk involves conducting regular risk assessments, updating detection strategies, and ensuring that staff are trained to recognize and respond to potential risks effectively.