By Dan Byrne for AMLi
Nearly one in ten firms in the UK’s financial services sector still don’t undertake Business Wide Risk Assessments (BWRAs), despite the fact that it has been a legal requirement for years.
The results of a new report by global law firm DWF Group suggests that 9% of surveyed financial services firms are guilty of this AML failure, which means they are also guilty of violating British money laundering regulations that were passed in 2017.
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