This video will help you understand the key concepts surrounding the AML Business Risk Assessment (BRA), which is also known as the Enterprise-Wide Risk Assessment, Firm-Wide Risk Assessment, Entity-Wide Risk Assessment, or simply ML/TF Risk Assessment.

• The need for AML Business Risk Assessment (BRA)
• Risk-Based Approach
• Risk appetite
• Risk Factors to consider while performing EWRA
• The concept of gross risk and how to arrive at it
• Evaluation of controls and their effectiveness
• The concept of net risk or residual risk and how to arrive at it

This video will help you grasp the essential concepts around:

• Who the politically exposed person is, the Definition of PEP
• Who is covered within the definition of PEP, including the person himself and his associates
• What action you should take once you know someone is a PEP or associated with a PEP
• How to deal with domestic PEPs, foreign PEPs, and heads of international organizations.
• Why PEPs are treated as high-risk customers
• What are the deciding factors to conclude that a PEP carries high-risk
• How to manage ML/TF risks around PEPs
• What are the requirements for carrying out Enhanced Due Diligence (EDD) when working with Politically Exposed Persons
• Ongoing monitoring of transactions with PEPs