Step 02 / Explore the workbook

See the risks. Understand the controls.

A visual view of what is inside the Cryptoasset firms edition, before you open Excel. Choose a tab to explore the illustrative worked example.

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Cryptoasset firms

Financial crime risk assessment · illustrative example firm: Marlowcrest Digital Limited

Change firm type
32
Pre-seeded risk factors

Editable in your copy

5
Risk categories

Regulation 18(2)(b)

24
High or very high inherent risks

Illustrative profile

00
Categories above appetite

After example controls

bwra-crypto-worked-example.xlsxIllustrative data

Inherent risk exposure

Example placement of 31 sector risks across a 5 × 5 matrix, before controls

Impact ↑

Likelihood →

LowMediumHighVery highTop ten risk, by rank
  1. 1: Countries subject to sanctions or embargoes, score 20
  2. 2: AI-enabled document fraud and identity circumvention, score 16
  3. 3: Money mules and mule accounts, score 16
  4. 4: Customers found to have provided false or stolen identification, score 16
  5. 5: Unregistered or lightly supervised counterparties, score 16
  6. 6: Fiat on/off ramps, score 16
  7. 7: Funds whose ultimate source is hard to trace, score 16
  8. 8: Non-face-to-face relationships without safeguards, score 15
  9. 9: Speed and volume of cryptoasset transfers, score 15
  10. 10: Outsourcing and third-party delivery, score 12

Risks by theme

Illustrative concentration, not live firm data

  • Transactions10
  • Customers7
  • Countries or geographic areas7
  • Products or services4
  • Delivery channels3

Reading the example. Compare inherent exposure with the controls in place. Residual risk can remain material even where controls exist, and must be assessed on evidence.

Top risk drivers

  1. 01Countries subject to sanctions or embargoesVery high
  2. 02AI-enabled document fraud and identity circumventionVery high
  3. 03Money mules and mule accountsVery high

What the workbook calculates

Risk scores, risk ratings, control strength and residual exposure against your appetite, in this example 14.6 inherent falling to 7.8 residual. Every rating can be changed as you complete your own assessment.

Formula-led scoring
See the actual workbook · real Excel sheets, rendered from the example file
Cryptoasset firms: Inherent risk heatmap with category scores (illustrative example)Risk heatmap · opens full sizeCryptoasset firms: Residual risk dashboard against risk appetite (illustrative example)Residual dashboard · opens full sizeCryptoasset firms: Top ten inherent risks with rationale (illustrative example)Top risks · opens full sizeCryptoasset firms: Controls assessment with design and effectiveness ratings (illustrative example)Controls summary · opens full size

Built from the same data and formulas as the worked-example workbook, for an invented firm. All figures are illustrative.

About the Cryptoasset firms edition

Cryptoasset exchange providers and custodian wallet providers registered under the Money Laundering Regulations. Cryptoasset exchange providers and custodian wallet providers are relevant persons under reg 8(2)(j) and (k). The NRA 2025 assesses the risk of money laundering through cryptoassets as high, so expect close supervisory scrutiny of your assessment.