The Financial Action Task Force (FATF) has published a report entitled Money laundering and terrorist financing risk assessment strategies. The purpose of the report is to provide information on developing a national Money Laundering (ML)/Terrorist Financing (TF) risk assessment.
There are 4 key sections in the report which are:
- Section 1 describes what a national ML/TF risk assessment is and what a risk assessment project entails.
- Section 2 presents examples of jurisdictional risk assessments covering ML and/or TF.
- Section 3 looks at the environment in which a national ML/TF risk assessment is produced, describing the process and resources needed.
- Section 4 provides guidance to relevant information sources and analytical methods that may provide information helpful to understanding the scope of ML and/or TF beyond what can be identified through law enforcement investigations and financial institution currency and transaction reporting.
The report concludes with suggestions for further study, focusing on FATF Recommendations 31 and 32. These Recommendations address the need for relevant data and cooperation among competent authorities.
View Money laundering and terrorist financing risk assessment strategies, (PDF 343.54KB), 18 June 2008