As per the Circular of Nepal Rastra Bank published on 8th Poush 2076, for the A, B and C Class Banks, the Policy and Procedures related to Risk Assessment arrangement shall be conducted by the Magh 2076 by transaction monitoring, identifying the high risk customers and identification of suspicious transaction and reporting.
· Risk assessment and its regular update is the legal requirement under AML laws. This assessment provides BFIs a clear vision to identify risk areas, apply appropriate control measures and invest resources economically on high risk sectors.
· Risk assessment needs to be reflected in the policy, procedures, system and operation of the BFIs. However, risk assessment, its methodology, its process and report writing has been a big challenge throughout the world.
· It is more critical to BFIs as they conduct large portion of financial transactions.
· Keeping the need of the day into consideration, this program below has been re-designed in the contemporary context with majority practical sessions.
