11.4 Risk-based compliance monitoring Flashcards
1
Q
What is the purpose of risk-based compliance monitoring?
A
It helps an organisation to allocate its copliance monitoring resources in a cost effective way. The greatest amount of resource is devoted to the largest risks.
2
Q
Risk based compliance is often assessed using a r____ m______ of p_________ versus i_____.
A
risk matrix
probability
impact
3
Q
What are “proceeds of crime” regulations?
A
Regulations aimed at preventing criminals using their illegally-gained profits (e.g. Money Laundering Reporting Officer)
