• AML-C.3 AML-C.3 Risk Management and Mitigation

    • AML-C.3.1

      A Capital Market Service Provider must:

      (a) Develop and implement policies which are approved by the Board of Directors and procedures and controls, which are approved by senior management, to enable the Capital Market Service Provider to effectively manage and mitigate the risks that have been identified by the Capital Market Service Provider or notified to it by the CBB;
      (b) Monitor the implementation of those policies, procedures and controls and enhance them if necessary; and
      (c) Perform enhanced measures where higher risks are identified, to effectively manage and mitigate those higher risks.
      Added: January 2020

    • AML-C.3.2

      The risk management and mitigation measures implemented by a Capital Market Service Provider must be commensurate with the risk profile of a particular customer or type of customer.

      Added: January 2020

    • AML-C.3.3

      Upon the initial acceptance of the customer, a Capital Market Service Provider must regularly review, especially when there is a change in the customer risk profile, and update the customer’s risk profile based on their level of ML/TF.

      Added: January 2020