RBI mandates enhanced risk assessment for money laundering and terrorist financing by banks and regulated entities.

The Reserve Bank of India (RBI) has mandated that banks and regulated entities enhance their risk assessment practices against money laundering and terrorist financing. New guidelines require the use of comprehensive internal and external data for regular risk assessments. The RBI emphasizes a collaborative approach beyond Anti-Money Laundering teams to identify vulnerabilities and mitigate risks effectively amid evolving financial complexities.

October 10, 2024
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