FATF criticises de-risking: A speech by FATF's vice-president noted FATF's increased commitment to the risk-based approach and said that "de-risking" should never be an excuse to avoid implementing a risk-based approach. He stressed banks should only terminate customer relationships, on a case-by-case basis, where it is not possible to mitigate money laundering and terrorist finance risks. He said: "What is not in line with FATF standards is the wholesale cutting loose of entire classes of customer, without taking into account, seriously and comprehensively, their level of risk or risk mitigation measures for individual customers within a particular sector". He also focused on the increasing risks of terrorist financing and noted the UN's creation of a consolidated list (see above). (Source: FATF Notes Key Areas)