ML/TF Risk Analysis
- Article 2-2 of the law of November 12, 2004 as amended
- Fight against money laundering and terrorist financing
Legal requirement
Companies are required to formalise a risk analysis as part of the fight against money laundering and terrorist financing (AML/CFT) in compliance with the article 2-2 of the amended law of November 12, 2004.
Companies are required to:
- Take appropriate steps to identify, assess and understand the risks of money laundering and terrorist financing that they face, taking into account risk factors including those relating to their customers, countries or geographic areas, products, services, transactions or delivery channels.
- Consider all relevant risk factors before determining the overall risk level and the level and type of appropriate measures to apply in order to manage and mitigate these risks. Moreover, the professionals shall ensure that the information on the risks included in the national and supranational risk assessment or communicated by the supervisory authorities, self-regulatory bodies or the European Supervisory Authorities is incorporated in their risk assessment.
- Identify and assess the risks of money laundering and terrorist financing which may result from the development of new products and business practices, including new distribution mechanisms, and the use of new or developing technologies related to new or pre-existing products.
Stages of a risk analysis
- Define your company's ML/TF risk appetite
- Identify the inherent risks of ML/TF
- Detail the mitigation measures in place
- Select the treatment of ML/TF risks
- Accept
- Reduce
- Transfer
- Avoid
- Maintain up-to-date risk analysis
VIGIL is at your side !
- Identify the risks inherent to your organisation thanks to a knowledge base of over 150 pre-configured risks
- Assess risks on the basis of a probability - impact scale
- Document the reduction measures in place within your company
- Determine how to deal with each identified risk
- Easily communicate the BC/FT risk analysis report
- Update your BC/FT risk analysis
Your risk analysis report in a few clicks
An additional value for your organisation !
Take advantage of the guidance provided by AML/CTF experts
Document your reduction measures and action plans
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Contact us
Would you like to receive more information about our solution or would you like to schedule a demonstration ?
Contact us via the attached form or by using the following contact details.
11, rue des trois Cantons L-8399 Windhof Luxemburg
info@vigil.lu
+352 26 30 89 35
+352 661 777 987
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