Section 7F: Risk understanding — Anti-Money Laundering Act, 2010

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7F. Risk understanding.—Every reporting entity shall take appropriate steps to identify, assess and understand the risks to which its business is subjected to, in accordance with this Act and as prescribed.

Effective date: 2010-03-27

Amendment history

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Related sections

Section 7E: Anonymous business relationships and transactions Section 7G: Compliance program Section 7D: Inability to complete CDD and tipping off Section 7H: Policies and procedures Section 7C: Record keeping Section 7I: Sanctions for reporting entities

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