Individual Risk Assessment

Advisory Department

The Anti-Money Laundering and Financement Act establishes that obliged entities need to identify, assess and understand all their Money Laundering and Terrorism Financing risks.

The obliged entities would be able to detect, identify and manage appropriately the risks of money laundering and terrorism financing thanks to the Individual Risk Assessment.

The self-evaluation process needs to be done in order to mitigate the above established risk. Finally, according to the ERI the obliged entities will apply Custome Due Diligence in accordance with his own level of risk.

The Individual Risk Assessment must be done before the 18th July of 2019, as it is set in the applicable regulation.