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. ... It can be defined as the process of identifying and assessing the risk in an organization through the understanding of the risk entity and the environment, (Fournier, Glorennec and Bonvallot 20-28). ... Professional skills ...
- Word Count: 1603
- Approx Pages: 6
- Has Bibliography
- Grade Level: Graduate