The Financial Action Task Force (FATF) has published guidance on the risk-based approach to combating money laundering and terrorist financing.
The FATF risk-based guidance is intended to support the development of a common understanding of what the risk-based approach involves, indicate good public and private sector practice in the design and implementation of an effective risk-based approach, and outline the high-level principles involved in applying the risk-based approach.
The guidance is mainly addressed to public authorities and financial institutions. A full review of the report will appear in the next issue of OpRisk&Compliance.
The week on Risk.net, August 19-25, 2016Receive this by email