Regulatory Alerts2025-11-07
Best Practices for Licensed Financial Institutions on Implementing a Risk-Based Approach and Conducting Risk-Based Institutional Risk Assessments
The Central Bank of the United Arab Emirates issued this document to guide licensed financial institutions in implementing a risk-based approach for anti-money laundering and combating the financing of terrorism. It requires institutions to conduct comprehensive institutional risk assessments that evaluate inherent risks, control environments, and residual risks across customers, products, and geographies. The guidelines mandate annual updates and immediate revisions following trigger events to ensure compliance with UAE statutory obligations and effective resource allocation.
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