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Why should a financial institution (Fl) require an update of its AML risk assessment?

Why should a financial institution (Fl) require an update of its AML risk assessment?

A.

To identify risk considerations for sharing information based on Fl changes

B.

To ensure an accurate reflection of the Fl's money laundering and other illicit financial activity risks

C.

To satisfy law enforcement when reporting suspicious activity

D.

To ensure the Fl's alignment with the board-approved strategic plan

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