By Esoimeme Ehi
The FATF options (Recommendation 1) calls for that nations mandate monetary associations and distinct non-financial companies and professions (DNFBPs), to undertake a risk-based method of fighting cash laundering and terrorist financing.
This booklet goals to supply a transparent realizing of what the risk-based strategy includes. as well as this, it differentiates the risk-based method from the rule-based method and determines if the risk–based strategy interferes with the human rights of high-risk customers.
Internationally, this publication will be the first finished ebook as regards to the Risk-Based procedure. This booklet may aid monetary associations and exact non-financial associations with any challenge concerning the program of the risk-based approach.
Financial institutions/DNFBPs who enforce the risk-based procedure, based on the information given during this publication, can be well-placed to prevent the implications of irrelevant de-risking behaviour.
Although there are a variety of of reference publications supplied through the monetary motion activity strength to aid organizations with the implementation of the risk-based process. these guides concentration in general at the hazard evaluate rules. This publication is concentrated on either the foundations and the sensible point of its application.
This booklet is a needs to learn for each specialist focusing on the sector of Anti-Money Laundering Compliance. it's also a needs to learn for each person who intends to understand extra concerning the funds laundering subject.