COMMENTARY ON UK AML/CFT THIRD NATIONAL RISK ASSESSMENT

On 22 December, an article from Eversheds Sutherland considered the recently issued report. Described as a ‘stock-take of our collective knowledge of money laundering and terrorist financing risks in the UK’, the NRA is one in a sequence of risk assessments required under the Money Laundering Regulations. Its findings must be taken into account in the risk assessment prepared by each of the UK supervisory authorities.  It is therefore essential that the risks highlighted in the NRA are properly understood at senior manager level, and that compliance teams and MLRO have a good working understanding of what threats have been identified particular to the firm’s relevant areas of business.

https://www.eversheds-sutherland.com/global/en/what/articles/index.page?ArticleID=en/Financial-services-and-dispute-investigation/Third-National-Risk-Assessment-published-by-HM-treasury-Home-Office-UK

I had omitted the following link (as it did not seem to generate much interest!), but it seemed time to add it again and say that, if you would like to make a (polite) gesture and help me with my removal and computer costs, I have a page at https://www.buymeacoffee.com/KoIvM842y

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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