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Raising the Bar on AML Risk Assessments

In: The Next Wave of Global Anti-Money Laundering Enforcement

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  • Sven Stumbauer

Abstract

Anti-money laundering compliance is a complex and ever-evolving field that plays a critical role in safeguarding the global financial system. Consequently, financial institutions face intense pressure to remain vigilant and proactive in identifying and mitigating these emerging threats. The process of risk assessment in the context of anti-money laundering involves the identification, understanding, and evaluation of potential threats that could expose a financial institution to money laundering activities. A thorough and effective anti-money laundering risk assessment is crucial because it serves as the foundation upon which strong internal controls for anti-money laundering compliance are built. A well-executed risk assessment not only identifies potential vulnerabilities but also informs the development of tailored controls and measures to mitigate those risks. This proactive approach not only safeguards the institution's reputation but also enhances its effectiveness in combating money laundering.

Suggested Citation

  • Sven Stumbauer, 2025. "Raising the Bar on AML Risk Assessments," Springer Books, in: The Next Wave of Global Anti-Money Laundering Enforcement, chapter 0, pages 95-99, Springer.
    • Handle: RePEc:spr:sprchp:978-3-031-05824-0_13
    DOI: 10.1007/978-3-031-05824-0_13
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