AML: A practical guide to preparing your Institutional Risk Assessment

The SFC’s updated AML guidance came into effect at the end of October 2021, introducing important changes to the institutional risk assessment, or IRA.  Our webinar provided a short and practical look at how to approach it.

The consultation conclusions and amendments to the Guideline on Anti-Money Laundering and Counter-Financing of Terrorism were published on 16^th September, with most of the changes having come into effect on the 30^th.

In this session, the Bovill Newgate Hong Kong team were joined by the head of our international Financial Crime Practice, Rupi Christophers, to cover:

• The new SFC expectations and updated risk indicators
• How to implement a risk-based approach
• What a good IRA might look like
• Linking your IRA and CRA (Customer Risk Assessment)
• Making sure senior management are appropriately involved
• Keeping your IRA up to date.