Money Laundering NRA guidance released by FATF

The guidance was contributed to by more than 90 countries in the FATF global network and aims to assist countries in conducting an NRA focused on their money laundering risks.

The guidance focusses on 3 key areas of the national risk assessment process:

• NRA preparation and setup when objective setting and data acquisition takes place;
• Assessment of money laundering risks where a detailed analysis of threats, vulnerabilities, and risks is undertaken; and
• Post NRA actions which ensure that mitigating measures are commensurate with the outcomes of the analysis.

💡 Jurisdictional risk assessments make up a vital part of FCC frameworks. Plenitude’s Advisory & Transformation practice helps clients by conducting Business Wide Risk Assessments, comprehensively assessing their inherent and residual financial crime risks. Visit our website for more information: https://www.plenitudeconsulting.com/services/advisory-and-transformation