The SRA has today published its updated anti-money laundering and terrorist financing sectoral risk assessment. This now also covers proliferation financing and sanctions. The SRA highlights wider economic pressures resulting in firms not allocating sufficient resources to AML work as an emerging risk.
Firms should review their own firm wide risk assessment in the light of the SRA’s updated sectoral risk assessment and ensure all of the risks mentioned are addressed (or recorded as not applicable) and add a reference to the new sectoral risk assessment.
