Risk is never a single number

Money-laundering risk is never a single number. Under the FATF risk-based approach, the EU AML Directives and Cyprus Law 188(I)/2007, a firm must run a documented risk assessment across the recognised risk factors — and the client's business sector is one of them, alongside geography, customer type, product and delivery channel.

In practice sector risk is a two-step judgement, documented so a supervisor can follow it: inherent risk first, drawn from the EU Supranational Risk Assessment, FATF typologies and the national risk assessment; then residual risk — what remains after the controls you actually apply. The rating feeds two places: the business-wide risk assessment, and each client's risk score, where a higher-risk sector pushes a file toward enhanced due diligence and more frequent review. It is never decisive on its own.

How the assessment works, and the full set of sector profiles: firm.cy/aml-industry-risk

Not legal advice. Verify against the primary source before acting.

Screen against the current lists in seconds

FIRMCY screens names against all of the lists above — plus a worldwide PEP database and adverse media — with fuzzy matching and an audit-ready report for every check. New organisations get 100 free credits, no card required.