Transcription of MEMORANDUM NO. M-2020- All BSP-Supervised Financial ...
{{id}} {{{paragraph}}}
Example: tourism industry
MEMORANDUM NO. M-2020- All BSP-Supervised Financial ...
OFFICE OF THE DEPUTY GOVERNOR Financial SUPERVISION SECTOR A. Mabini St., Malate 1004 Manila, Philippines * (632) 87087701 * * MEMORANDUM NO. M-2020- ___ To : All BSP-Supervised Financial Institutions (BSFIs) Subject : money laundering (ML)/Terrorist financing (TF) Risk assessment System (MRAS) The Monetary Board, in its Resolution No. 1461 dated 13 November 2020, approved the adoption of the money laundering (ML)/Terrorist financing (TF) Risk assessment System (MRAS) (Annex A). The MRAS is a tool to assess the inherent ML/TF and proliferation financing (PF) risk and the quality of risk management system to determine the net ML/TF/PF risk of BSFIs, taking into account their risk and context, business models and operations, among others. The MRAS uses a four (4) point rating scale to describe the net ML/TF/PF risk, as follows: Net Risk Description High Excessive level of residual risk.
Subject : Money Laundering (ML)/Terrorist Financing (TF) Risk Assessment System (MRAS) The Monetary Board, in its Resolution No. 1461 dated 13 November 2020, approved the adoption of the Money Laundering (ML)/Terrorist Financing (TF) …
Tags:
Information
Domain:
Source:
Link to this page:
Please notify us if you found a problem with this document: