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By Nessym Jules TIR, Avocat/Partner, Global Compliance Investigations, Wolff Partners SCS, Attorneys at law
Last December, AMLA published the Final Report on the Draft Regulatory Technical Standards (“RTS”) under Article 40(2) AMLD and Article 12(7) AMLAR. These technical standards are particularly enlightening with respect to the application of methodologies for obligated entities.
A robust methodology
The draft regulatory technical standards on the assessment of the inherent and residual risk profile of obligated entities adopts a methodology that is based on a risk-based approach under Article 40(2) AMLD. It establishes a basic dataset applicable to all relevant entities, complemented by...
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