Risk-based AML assessment required for money changers, mandating customer, product and geographic risk profiling and enhanced due diligence. Authorised Persons in money changing must adopt a risk based approach to AML/CFT by identifying and assessing ML/TF risks across customers, countries, products, services, transactions and delivery channels, preparing customer risk profiles, applying enhanced due diligence for medium and high risk, and implementing board approved policies, systems and procedures. APs may design risk parameters for transaction monitoring and are responsible for ensuring agents and franchisees comply with these requirements.