Regulatory Alerts2025-01-21
Added · Updated
Guidance Note on Conducting Institutional Risk Assessment
Issued by Botswana’s Non-Bank Financial Institutions Regulatory Authority, the guidance requires non-bank financial institutions to conduct comprehensive institutional risk assessments for money laundering, terrorist financing, and proliferation financing. Boards must identify, categorize, and mitigate risks across products, delivery channels, geography, and customer profiles using a calibrated risk-based approach. The framework mandates documented, regularly updated assessments that are monitored and reported to demonstrate statutory compliance.
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