Advisers' AML risks assessed

The Financial Markets Authority had competed its review of AML/CFT risk assessments and financial advisers remain medium to low risk.

The one change to the risk assets is the introduction of cryptocurrency services [which it calls virtual asset service providers (VASPs)] and they have been deemed high risk alongside derivatives issuers (DIs).

READ the new report here.

The report outlines the factors that can increase a sector’s risk (see chart below) to money laundering and the financing of terrorism and is an update to the last report issued in 2017.