1. Concepts of the Risk-Based Approach
Introduction The risk-based approach is the process of identification, assessment, and understanding risk factors, as well as the application of Financial Action Task Force (FATF) recommendation and measures on combating the financing of terrorism and money laundering and proliferation in order to ensure effective mitigation process in accordance with the level of risk. ... Definition and Best Practices of a Risk-Based Approach According to Andretta, Massimo, the risk-based approach can be defined as the measures that countries, state agencies or authorities, and private sectors take to identi...
- Word Count: 1603
- Approx Pages: 6
- Has Bibliography
- Grade Level: Graduate
