Risk-Based Approach to AML/CFT Supervision and Monitoring Launched in Réunion
The World Bank has launched a risk-based approach to anti-money laundering and combating the financing of terrorism (AML/CFT) supervision and monitoring in Réunion, aiming to enhance financial sector integrity.
Enhancing Financial Sector Integrity
In an effort to strengthen financial sector integrity, the World Bank’s RBA Toolkit is designed to assist countries in establishing effective supervision or monitoring frameworks for all financial sectors. The toolkit follows a top-down approach that is based on an accurate understanding of ML/TF risks in the jurisdiction and different sectors.
Objectives of the RBA Toolkit
- Assist countries in the establishment of risk-based and effective supervision or monitoring frameworks for all financial sectors.
- Provide practical tools, templates, and exercises to develop skills in applying a risk-based approach to supervision.
Modules and Content
The RBA Toolkit contains two core modules:
The Design (Module 2)
- Helps participants build on findings from risk assessments
- Aligns legislation with the risk-based approach
The Practice (Module 4)
- Develops supervision and monitoring strategies
Additional modules include:
- Practical tools and templates for developing a risk-based approach to supervision
- Exercises to help participants apply the risk-based approach to specific scenarios
Réunion Joins Growing List of Countries Adopting RBA Toolkit
Réunion joins a growing list of countries that have adopted the risk-based approach to AML/CFT supervision and monitoring, designed to enhance financial sector integrity and prevent money laundering and terrorist financing.
The World Bank’s RBA Toolkit: A Proven Effective Tool
The World Bank’s RBA Toolkit has been widely recognized as an effective tool in promoting financial sector integrity and preventing financial crimes. With its launch in Réunion, the toolkit aims to support the country’s efforts in enhancing financial sector integrity and combating financial crimes.
Contact Information
Kuntay Celik Senior Financial Sector Specialist World Bank Email: kcelik@worldbank.org Phone: +1.202.4587874
Website: http://www.worldbank.org/en/topic/financialmarketintegrity