#4 Tick-a-box vs Outcomes - are documented risk assessments necessary?
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Don't give me rules, give outcomes; don't ask for risk assessments.
This episode explores the effectiveness or otherwise of rules-based legislation versus principles-based legislation intended for anti-money laundering. Will financial institutions find it easier to apply or not?
A related regulatory requirement is to draft extensive risk assessments. Do we consult them when a risk occurs? Businesses manage their risks anyway - why do they need it to be documented?
An opinion is given on whether the financial impact of money laundering is ever factored into published economic statistics such as GDP.
Join Dawn as she speaks with Louize Hermitage-Holt and Aziz Boghani from The Goose.
This episode explores the effectiveness or otherwise of rules-based legislation versus principles-based legislation intended for anti-money laundering. Will financial institutions find it easier to apply or not?
A related regulatory requirement is to draft extensive risk assessments. Do we consult them when a risk occurs? Businesses manage their risks anyway - why do they need it to be documented?
An opinion is given on whether the financial impact of money laundering is ever factored into published economic statistics such as GDP.
Join Dawn as she speaks with Louize Hermitage-Holt and Aziz Boghani from The Goose.