Anti-Money Laundering · glossary
The firm’s written view of how risky one client and one job are. It weighs the risk factors together and gives a rating, which sets how closely the firm checks. Merranby’s purchase is rated high. Client and Matter Risk Assessment, Tab 2 · Chapter 2 · see Firm-wide risk assessment, Red flag
Explained in Chapter 2, AML Risk Assessments: Firm, Client and Matter, of Anti-Money Laundering.
Each new matter then gets its own assessment. The checks on a client must reflect both the firm-wide assessment and the risk in that case (regulation 28(12)). Hollanby Darroway puts this in one document, the client and matter risk assessment. It is Tab 2 of the File, the firm’s record of its checks on Merranby.Read Chapter 2, AML Risk Assessments: Firm, Client and Matter →
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