In June of 2023, The Central Bank of the Bahamas issued guidance notes for the completion of Money Laundering, Terrorist Financing and Proliferation Financing (ML/TF/PF) Risk Assessments. The Central Bank expects risk assessments to include the following:

1. Risk Appetite and Risk Tolerance
2. Risk Assessment Methodology
3. Identification and Assessment of Inherent Risks  
4. Identification and Assessment of Controls
5. Evaluation of Residual Risk
6. Corrective Action Plan(s) where applicable

Additionally, supervised financial institutions are required to monitor and update their risk assessments on an ongoing basis.

This session will provide guidance on how to effectively complete a Money Laundering, Terrorist Financing and Proliferation Financing (ML/TF/PF) Risk Assessment.

Agenda:

1:00 – 2:00pm ET