Internal Risk Assessment Framework for Money Laundering and Terrorist Financing Risks

Financial institutions need to continuously evaluate their exposure to money laundering (ML), terrorist financing (TF), and proliferation financing (PF) risks. In response to recent guidelines from the Reserve Bank of India (RBI), our whitepaper outlines a comprehensive internal risk assessment (IRA) framework to help Regulated Entities (REs) enhance their compliance programs. 

These guidelines emphasize the importance of understanding, assessing, and mitigating ML/TF risks, ensuring robust control mechanisms, and aligning risk management strategies with regulatory expectations.

Our whitepaper delves into the key principles and processes for conducting an effective IRA, providing incisive insights into all key inherent risks and residual risks, and outlining strategies to mitigate them through robust internal controls. With out advanced ecosystem of AML, including screening, transaction monitoring and risk assessment accelerators, we enable financial institutions to meet RBI’s stringent requirements while ensuring operational efficiency and compliance.