Video on AML Remedial Action Plan (RAP): Implementation Steps and Best Practices

The Remedial Action Plan (RAP) is issued by the supervisory authorities when they come across deficiencies in a regulated entity’s AML/CFT framework and its implementation. It enumerates the actions to address identified deficiencies. It mentions the applicable provision, area of concern, and required remediation.

By implementing RAP, you are performing three essential things: preventing money laundering and terrorism financing, committing to regulations, and identifying weaknesses in your program.

In this video you will learn various steps involved in RAP such as thoroughly understanding the plan, prioritizing task, establishing a dedicated team to oversee implementation, and executing actions diligently.