MODULE CONTENTS
This module explains the importance of the risk assessment system in the fight against money laundering and the financing of terrorism (AML/CFT). It consists of two components: risk classification, which involves mapping risks specific to each sector, and the operational aspect, which consists of applying vigilance measures adapted to the level of risk identified. The aim is to detect suspicious operations or people, and to modulate vigilance according to the degree of risk, while ensuring that the risk analysis is regularly updated.
TRAINING OBJECTIVES
Risk Analysis: A Key Tool in the Fight against Money Laundering
Risk assessment is a central pillar in the fight against money laundering and the financing of terrorism (AML/CFT). It enables professionals to identify, analyze and classify the risks to which they are exposed, whether in relation to customers, companies or financial transactions. This assessment is divided into two parts: classification and operational aspects.
The "classification" aspect is based on risk mapping, which involves identifying potential sources of risk. These include, for example, inconsistencies in a customer's profile, newly-created companies or atypical money transfer operations. Each company needs to draw up its own risk map, based on its own sector of activity and specific characteristics.
Once the risks have been identified, they need to be ranked in order of seriousness, so that appropriate vigilance measures can be put in place. These measures vary according to the level of risk: reduced vigilance for low risks, standard vigilance for moderate risks, and reinforced vigilance for high risks.
The "operational" section describes the concrete actions to be taken in response to the risks identified. This vigilance system must be regularly updated, at least once a year, and circulated to all staff in charge of LCB-FT to guarantee its effectiveness.
In short, risk analysis is an essential tool enabling companies to prevent fraudulent transactions and comply with legal requirements, while actively participating in the fight against money laundering and the financing of terrorism.
