The BRA lies at the heart of the risk-based approach underpinning current AML/CFT regulatory frameworks and is a regulatory obligation that has been drawing increased scrutiny by supervisory authorities. The BRA enables an entity to develop a thorough understanding of the inherent and residual ML/FT risks present in its customer base, products, delivery channels and services offered and the jurisdictions within which it or its customers do business.
The BRA is considered as one of the foundations of the AML/CFT Framework and PwC can assist you by facilitating the identification, assessment and understanding of your AML/CFT risk exposure in order for you to be able to take appropriate mitigating steps to align residual risk exposure with your risk appetite in line with this recommended approach.
Tax Partner, PwC Malta
Tel: +356 2564 6744
Senior Manager, Tax, PwC Malta
Tel: +356 2564 2343