Risk-Based Approach Understanding and Implementation: Challenges Between Risk Appetite and Compliance

Author: Karima Touil, CAMS-Audit

In today’s emerging risks and challenges, financial institutions, especially in the Middle East, are exposed to money laundering, terrorist financing and sanctions risks leading to the necessity of adopting preventive measures that can be enabled in the financial institution to mitigate risks.

Regulators are more aware of the impact of money laundering and the advancements and evolvement of money laundering methods which parallel to the nature and level of scrutiny adopted by the regulators to ensure that stringent regulations are complied with and impose fines on any financial intuition found to be in breach of anti-money laundering (AML) rules.

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