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What step can a firm take to mitigate money laundering once risk has been assessed?

Article ID: 2939
Last updated: 10 Jun, 2019

The first and the most important defence against money laundering after the risk is assessed is to design effective Client Due Diligence (CDD) procedures that, while being proportionate to the level of risk you have identified, should aim to prevent the firm taking on clients that could be connected to criminal activity or laundering the proceeds of crime.

Article ID: 2939
Last updated: 10 Jun, 2019
Revision: 1
Views: 116
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