Banking · Anti-Money Laundering (AML) & KYC
What is the primary objective of adopting a Risk-Based Approach (RBA) for banks in managing risks?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1To implement a one-size-fits-all approach to risk management.
- 2To ensure that the bank's operations are solely focused on increasing profitability.
- 3To tailor customer due diligence and transaction monitoring measures according to the identified risk levels.✓
- 4To ignore the risk levels of transactions and focus only on customer behavior.
Correct answer
To tailor customer due diligence and transaction monitoring measures according to the identified risk levels.
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