Every year, we carry out a Sectoral Risk Assessment to identify the key risks that could affect our regulated firms and supervised community. This assessment is a cornerstone of our Anti-Money Laundering (AML) compliance and supervisory work.
By taking a deep dive into the latest data and trends, we gain a clear picture of the threats posed by money laundering, terrorist financing, and proliferation financing. This insight allows us to:
- Focus our supervision where it matters most
- Provide practical advice and guidance to help firms reduce risk
We also keep a close eye on the wider regulated community to ensure that any activities falling under the Money Laundering Regulations (MLR) are identified and addressed.
Importantly, the Sectoral Risk Assessment helps firms meet their own obligations under Regulation 18 of the MLR. It highlights the risks they should consider and offers guidance on effective mitigation strategies when completing their Practice-Wide Risk Assessments.
Together, these steps strengthen the resilience of our sector and protect against financial crime.
