Ever since the introduction of the need for documented AML/CFT risk assessments of clients and client entities under the Proceeds of Crime Act 2008, the FSA has regarded this element of a firm’s financial crime prevention framework as a cornerstone for their supervisory visits.  The Authority typically selects a sample of clients and reviews the standard to which the Client Risk Assessments (CRAs) have been carried out as these capture virtually all aspects of applicable KYC and wider CDD and AML/CFT legal requirements and regulatory guidance.

We can assist in carrying out CRAs over a part or all of your clients. We do this on the behalf of the firm’s Directors and MLRO, where each and every risk assessment is recommended for validation by  the firm. You can in confidence delegate and outsource all or part of the underlying work to us, with you retaining the appropriate legal responsibility.

As part of the CRA-related work which we can undertake on your behalf we can:

• Produce suggested format for your CRA forms for the approval of your Directors or Senior Managers / MLRO.
• Carry out file reviews and produce completed CRA forms where these are presented for formal approval by your Directors or MLRO.
• Monitor the effectiveness and scope of your existing CRA’s against the requirements of the AML Code and FSA AML Guidance, producing documented monitoring reports.

Upon request, depending on the number of clients to be reviewed and the time scale. (Typically, £120 per client.)

Upon request, depending on your specific needs.