Regulatory Alerts2019-09-18
4.4.1 Sector Risk Assessment - Short Version (31 May 2019)
The Financial Sector Conduct Authority issued this sector risk assessment to evaluate money laundering and terrorist financing risks across authorised exchange users, collective investment scheme managers, and financial services providers. By analyzing suspicious transaction reports, cash threshold data, and inspection findings from 2016 to 2018, the regulator assigned medium risk ratings to authorised users and financial services providers, while designating collective investment scheme managers as low risk. The assessment establishes a risk-based supervisory framework that directs regulatory resources toward high-impact vulnerabilities like unauthorized business, Ponzi schemes, fraud, and tax evasion to ensure effective compliance with the Financial Intelligence Centre Act.