The Financial Action Task Force (FATF) has published updated guidance in respect of a risk-based approach for the banking sector.
This guidance is intended to assist in the design and implementation of a risk-based approach for the banking sector, taking into account national risk assessments and the national legal and regulatory framework.
FATF intends for the guidance to be used to develop a common understanding of the risk-based approach between supervisory authorities and banks. FATF provides practical examples in its guidance which are intended to assist in understanding the various elements of this approach.
This guidance consists of three sections.
- section I explains the key elements of the risk-based approach;
- section II provides specific guidance for banking supervisors; and
- section III provides specific guidance for banks.
Copies of the:
Guidance; http://bit.ly/1thpYyY
Webpage; http://bit.ly/1wFUjI7
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