NATIONAL AML/CTF ASSESSMENTS ALMOST WORTHLESS, SAYS WORLD BANK STUDY
June 27th, 2022
National risk assessments (NRAs) for money laundering and terrorist financing, required by the Financial Action Task Force (FATF) since 2012, are not comparable nor based on sound methodology, according to a new World Bank study (1) ‘National Assessments of Money Laundering Risks: Learning from Eight Advanced Countries’ NRAs’. Current practice “does not provide much useful information for policy makers (whether regulators or law enforcement agencies),” concluded authors Joras Ferwerda, of the Netherlands’ Utrecht University, and Peter Reuter, of the ...
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