Vulnerabilities: Elements of a business or its processes that are susceptible to harm and could be exploited by a threat. In the ML/TF context, threats could be criminals, third parties facilitating ML/TF, terrorists or terrorist groups or their funds. Threats: A person, group or object that could cause harm. For example, a possible ML/TF risk at the RE level could be conducting business with clients located in high-risk jurisdictions or locations of concern.
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