Business-wide risk assessment
What is a business-wide AML risk assessment and do I need one?
The situation
Every DNFBP must assess its own money laundering, terrorist financing and proliferation financing risks across customers, countries, products and channels.
The law
- Federal Decree-Law 10 of 2025: Risk-based approach and assessment
What it means for you
The assessment drives how deep your customer checks go. Example: a corporate service provider with many clients from high-risk countries and complex structures rates itself higher risk and applies enhanced due diligence more often. Keep it short, specific and approved by management.
What to do
- List customer types and countries.
- Rate risks for each area.
- Set controls to match risks.
- Get management approval and review yearly.
We can do this for youAML for DNFBPs: goAML registration, compliance officer, risk assessment, customer checks and reporting: AED 3,500