Regulatory Alerts2025-01-21
Mandatory ML/TF/PF Risk Assessment on New Technologies for Non-Bank Financial Institutions
The Non-Bank Financial Institutions Regulatory Authority of Botswana mandates that non-bank financial institutions conduct comprehensive Money Laundering, Terrorist Financing, and Proliferation Financing risk assessments prior to adopting new technologies. This guidance outlines a structured process for identifying technological innovations, evaluating their specific vulnerabilities, and implementing targeted mitigation measures to ensure regulatory compliance. Institutions must document their findings, engage relevant stakeholders, and establish ongoing monitoring mechanisms to continuously adapt to evolving threats and regulatory expectations.
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