The JFSC ask - Why is it essential for all businesses to carry out a Business Risk Assessment?
17/09/2023
The JFSC ask –
- Why is it essential for all businesses to carry out a Business Risk Assessment?
The FSC answer its question as follows.
- A Business Risk Assessment (#BRAs) is a strategy document that helps to identify and, hopefully, protect your business from being exposed to money laundering or other types of criminal activity, such as terrorist financing. #AML #CFT
- In essence, it’s a way of assessing how exposed your business may be to financial crime, but it also sets out how these threats and the associated risks of them occurring are countered or reduced. #financialcrime #risk
- This is especially important for businesses which accept significant sums of cash or virtual currency by way of payment or may handle high-value or high-frequency transactions.
To find out more, go to https://lnkd.in/e_9jaajy
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As well as owning and publishing Comsure's copyrighted works, Comsure wishes to use the copyright-protected works of others. To do so, Comsure is applying for exemptions in the UK copyright law. There are certain very specific situations where Comsure is permitted to do so without seeking permission from the owner. These exemptions are in the copyright sections of the Copyright, Designs and Patents Act 1988 (as amended)[www.gov.UK/government/publications/copyright-acts-and-related-laws]. Many situations allow for Comsure to apply for exemptions. These include 1] Non-commercial research and private study, 2] Criticism, review and reporting of current events, 3] the copying of works in any medium as long as the use is to illustrate a point. 4] no posting is for commercial purposes [payment]. (for a full list of exemptions, please read here www.gov.uk/guidance/exceptions-to-copyright]. Concerning the exceptions, Comsure will acknowledge the work of the source author by providing a link to the source material. Comsure claims no ownership of non-Comsure content. The non-Comsure articles posted on the Comsure website are deemed important, relevant, and newsworthy to a Comsure audience (e.g. regulated financial services and professional firms [DNFSBs]). Comsure does not wish to take any credit for the publication, and the publication can be read in full in its original form if you click the articles link that always accompanies the news item. Also, Comsure does not seek any payment for highlighting these important articles. If you want any article removed, Comsure will automatically do so on a reasonable request if you email info@comsuregroup.com.