AMLG11200 - Guidance for all sectors: Parent undertakings and managing subsidiaries and branches
12. Parent undertakings and managing subsidiaries and
branches
If your business operates under a group structure, consisting of a parent undertaking and one or more subsidiary undertakings, or your business has different branches, your risk assessment must fully consider the risks of money laundering, terrorist financing and proliferation financing that may arise across the entire group or network and establish and maintain effective PCPs to manage and mitigate such risks.
The parent undertaking must ensure that the businesses’ PCPs are communicated to, and applied in, all subsidiary...
