AML Risk Assessment: Identifying, Assessing and Managing Financial Crime Risk
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Course Overview
If a firm does not clearly understand how it could be misused for money laundering or terrorist financing, it cannot effectively identify, mitigate, or prevent financial crime. This interactive half-day workshop is designed for senior compliance and financial crime professionals within UK-regulated financial services firms who are responsible for setting, maintaining, and challenging the firm-wide approach to money laundering risk.
The course focuses on the purpose, structure, and practical application of a formal business-wide AML risk assessment in line with UK regulatory expectations and recognised good practice. Participants will explore the core drivers of money laundering risk and learn how to ensure the assessment is proportionate, current, and genuinely decision-useful. The workshop also examines how the risk assessment should inform customer due diligence, ongoing monitoring, and the design of systems and controls.
Through practical, workshop-led exercises, attendees will develop the skills required to review, challenge, and enhance their own firm’s AML risk assessment and to clearly evidence its effectiveness to senior management, auditors, and regulators.
Learning outcomes
By the end of the session, participants will be able to:
Understand regulatory expectations for business-wide AML risk assessments in the UK
Identify and assess the key drivers of money laundering and terrorist financing risk relevant to their firm
Structure and document a proportionate, risk-based AML risk assessment aligned to firm size, complexity, and business model
Ensure AML risk assessments are current, decision-useful, and embedded into day-to-day risk management
Use the risk assessment to inform customer due diligence, transaction monitoring, and control design
Evidence governance, senior management oversight, and challenge in relation to AML risk
Critically assess the effectiveness of existing AML risk assessments and identify areas for enhancement
Who this course is for
This workshop is designed for professionals with responsibility for AML risk assessment and oversight, including:
MLROs and Deputy MLROs
Heads of Compliance and Financial Crime
Senior Compliance and Risk Managers
AML, CDD, and Financial Crime leads
Oversight, assurance, and internal audit professionals
Senior managers accountable for AML
The course is particularly relevant for UK-regulated firms seeking to strengthen the quality, consistency, and regulatory defensibility of their AML risk assessments.