eBook on AML Enterprise-Wide Risk Assessment for IFSC Entities

The International Financial Services Centres Authority (IFSCA) mandates Regulated Entities to conduct Enterprise-Wide Risk Assessment (EWRA) to identify, assess and mitigate Money Laundering (ML) and Terrorism Financing (TF) risks.

EWRA is more than just a checklist. It offers an organized framework to understand business vulnerabilities, aligning it with AML obligations to prioritize the highest risk sectors, enabling Regulated Entities to protect and enhance their operations.

Risk may emerge from your customers, geographical exposure, products and services, transactions and delivery channels. By understanding this, Regulated Entities can allocate more resources to high risk sectors while managing low risk areas efficiently.  

EWRA involves identifying risk factors affecting the Entity, assessing their likelihood and potential impact, analyzing the effectiveness of existing controls, implementing additional controls where required, and continuing to monitor REs to keep up with evolving threats.

AML India helps IFSCA-Regulated Entities to carry out precise EWRAs, develop customized AML programs and to stay compliant with IFSCA guidelines.