FATF out with new AML guidance
New risk-based approach guide to combat money laundering and terrorist financing
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.
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