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A RBA to AML/CFT means that countries, competent authorities and financial institutions8, are expected to identify, assess and understand the ML/TF risks to which they are exposed and take AML/CFT measures commensurate to those risks in order to mitigate them effectively.
The Risk-Based approach is a systematic method that identifies, evaluates, and prioritizes threats facing the organization. It is a customizable method that enables the business to tailor their cybersecurity program to specific organizational needs and operational vulnerabilities.
The FATF Recommendations are the internationally endorsed global standards against money laundering and terrorist financing: they increase transparency and enable countries to successfully take action against illicit use of their financial system.
Risk assessment is the name for the three-part process that includes: Risk identification. Risk analysis. Risk evaluation.
The risk-based approach has three steps: determine the risk profile, implement effective risk controls and balance the residual risk. Determine the risk profile. ... Implement effective risk controls. ... Balance the residual risk.

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A RBA to AML/CFT means that countries, competent authorities and financial institutions8, are expected to identify, assess and understand the ML/TF risks to which they are exposed and take AML/CFT measures commensurate to those risks in order to mitigate them effectively.
Generally an RBA will involve: identifying the risks you face. assessing the risks you face. designing and implementing systems and controls to mitigate those risks. monitoring your systems and controls. recording what you have done and why. reviewing your risks in.
FATF Guidance on Risk-Based Supervision helps supervisors address the full spectrum of risks and focus resources where the risks are highest. A risk-based approach is less burdensome on lower risk sectors or activities, which is critical for maintaining or increasing financial inclusion.
Compliance monitoring involves the use of the ERO Enterprise Risk-Based Compliance Oversight Framework (Framework). The Framework focuses on identifying, prioritizing, and addressing risks to the bulk power system (BPS), enabling each Regional Entity (RE) to direct resources where they are most needed.
A risk-based approach means that countries, competent authorities, and banks identify, assess, and understand the money laundering and terrorist financing risk to which they are exposed, and take the appropriate mitigation measures in accordance with the level of risk.

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