Risk-Based AML/CFT Approach for the Insurance Sector

FATF guideline on risk-based approach to anti-money laundering/combatting the financing of terrorism in the insurance sector

Financial Action Task Force guidance: i) supports development of a common understanding of what the risk-based approach involves; ii) outlines high-level principles involved in applying the risk-based approach; iii) identifies characteristics of risks indicating that enhanced mitigation strategies may be warranted; iv) describes good public and private sector practice in the design and implementation of an effective risk-based approach; and v) fosters communications between public and private sectors that are conducive to the prevention of money laundering and terrorist financing. 

Release date: Oct 2009    

Type: Guideline

Peer: National Money Laundering and Terrorist Financing Risk Assessment, Anti-Money Laundering and Terrorist Financing Measures and Financial Inclusion

Topics: Risk-based supervision, Money laundering and terrorist financing, Financial inclusion

Sectors: Insurance