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Anti-Money Laundering and Counter-Terrorism Financing Rules 2025
5‑1 Review of ML/TF risk assessment5‑1 Review of ML/TF risk assessment
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5‑1 Review of ML/TF risk assessment
(1) For the purposes of subparagraph 26D(1)(a)(iii) of the Act, a reporting entity must review its ML/TF risk assessment if an independent evaluation report contains adverse findings in relation to the ML/TF risk assessment. (2) For the purposes of paragraph 26D(2)(d) of the Act, the review must be undertaken as soon as practicable after the governing body of the reporting entity receives the independent evaluation report.