Adopting a Risk-Based Approach

Course 7 of the 9-Course StudyAML Annual AML/CFT Refresher Series for the Cayman Islands, this interactive course explores how a Risk-Based Approach (RBA) helps financial institutions identify, assess, and manage AML/CFT risks effectively. Purchase the full series for bundle savings and gain comprehensive coverage of Cayman AML/CFT compliance essentials — from governance and due diligence to sanctions and reporting obligations.

20 - 25 minutes

Certificate Included

Cayman Islands

Description

This self-paced course helps learners understand how to apply a Risk-Based Approach to AML/CFT compliance. It explains how financial institutions can prioritise higher-risk areas, tailor due diligence to client risk, and maintain alignment with CIMA and FATF standards. Through practical examples and structured guidance, learners gain confidence in assessing risk factors, designing proportionate controls, and enhancing compliance effectiveness across all operations.

What will you learn?

Module 1 – Introduction to the Risk-Based Approach:
Learn how the RBA helps institutions focus on higher-risk areas, use resources efficiently, and strengthen compliance with FATF and CIMA expectations.
Module 2 – Client Risk Factors:
Understand how geography, business activity, ownership structure, and delivery channels shape client risk and determine the level of due diligence required.
Module 3 – Client Risk Profiles:
Discover how to convert identified risk factors into measurable risk ratings and apply the appropriate level of due diligence for each client category.

Course Content

Module 1 – Introduction to the Risk-Based Approach
Module 2 – Client Risk Factors
Module 3 – Client Risk Profiles