FATF Risk-Based Approach to Managing Financial Crime Compliance – Guidance for Banks
Adopting a “risk-based approach” or RBA is crucial for financial institutions to meet compliance with anti-money laundering (AML) regulations. The Financial Action Task Force (FATF) maintains specific guidance for a risk-based approach in the banking sector, which states that “The risk-based approach (RBA) is central to the effective implementation of the revised FATF International Standards …
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