On 7 November 2024, the Financial Action Task Force (FATF) published its Money Laundering National Risk Assessment Guidance.
The Guidance is intended to support countries in conducting a National Risk Assessment (NRA) focused on the assessment of money laundering risks. FATF explains that the Guidance serves as a practical resource for countries aiming to strengthen their anti-money laundering and combating the financing of terrorism systems and align them with proven practices across the FATF network.
Key sections include:
- NRA preparation and setup, which identifies the prerequisites to a successful NRA.
- Assessing and understanding money laundering risks – this sets out a flexible but structured methodology for analysing threats, vulnerabilities, and risks.
- Post-NRA actions – this section recommends follow-up actions including aligning mitigation measures with identified risks, communicating findings, and refining the NRA process.