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Home » Glossary Terms » Risk-Based Approach (RBA)

Risk-Based Approach (RBA)

A risk-based approach is considered by the Financial Action Task Force (FATF) to be the basis for effective implementation of AML controls. Under such an approach countries, competent authorities and reporting entities (including financial institutions) are expected to identify, assess and understand the money laundering/terrorist financing risks they are exposed to so that they can develop the appropriate measures to mitigate these risks.

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