The business-wide risk assessment, known as the SIRA in the Netherlands, is the foundation regulators expect every institution to maintain, and the first thing they test. It identifies the money-laundering and terrorist-financing risks across customers, products, channels and geographies, and links them to the controls meant to mitigate them. A weak or stale risk assessment undermines everything built on top of it. These insights explain what good looks like and how to make yours complete, current and defensible.
It is the foundation regulators expect and the first thing they test. How to make your BWRA (the SIRA in the Netherlands) complete, current and defensible.
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