Transcription of RISK-BASED SUPERVISION
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RISK-BASED SUPERVISION
RISK-BASED SUPERVISION MARCH 2021 MARCH 2021 The Financial Action Task Force (FATF) is an independent inter-governmental body that develops and promotes policies to protect the global financial system against money laundering, terrorist financing and the financing of proliferation of weapons of mass destruction. The FATF Recommendations are recognised as the global anti-money laundering (AML) and counter-terrorist financing (CFT) standard. For more information about the FATF, please visit This document and/or any map included herein are without prejudice to the status of or sovereignty over any territory, to the delimitation of international frontiers and boundaries and to the name of any territory, city or area.
3. Mutual evaluations reveal that making the transition to risk-based supervision is a challenging task. Supervisors need a good understanding of risks, a strong legal basis (mandate and powers) as well as political and organisational support and adequate capacity and resources to succeed in implementing a robust risk-based supervisory approach.
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