Financial Crime World

National Risk Assessments for Money Laundering and Terrorist Financing

The Financial Action Task Force (FATF) is an intergovernmental organization that sets international standards for combating money laundering (ML) and terrorist financing (TF). Various countries have conducted national risk assessments (NRAs) to assess the risks of ML and TF in their respective jurisdictions. These reports are submitted to the FATF and provide valuable insights into the risks and vulnerabilities associated with these crimes.

Country-Specific NRAs

Each country has its own NRA report, which typically includes:

  • Executive summaries or overviews that provide a concise summary of the key findings and recommendations
  • Assessments of the risks of ML and TF in their respective jurisdictions

Most reports are available in English, but some are provided in local languages. For example, Panama’s NRA report is available in Spanish.

The FATF conducts typologies studies to assess specific threats or vulnerabilities related to ML/TF. These studies often focus on particular sectors, such as:

  • Financial institutions
  • Non-profit organizations

These studies help the FATF identify and address emerging risks and trends associated with ML/TF.

Mutual Evaluations

Mutual evaluations are conducted by the FATF’s member countries to assess their respective compliance with international anti-money laundering and counter-terrorist financing (AML/CFT) standards. These evaluations provide a comprehensive assessment of a country’s AML/CFT framework and identify areas for improvement.

US-Specific Documents

The United States has a separate section in the list, which includes:

  • National Strategy for Combating Terrorist and Other Illicit Financing (2020): This strategy outlines the US government’s approach to combating terrorist financing and other illicit financial activities.
  • National Money Laundering Risk Assessment (2015 and 2018): These reports assess the risks of ML in the United States and identify areas for improvement in the country’s AML/CFT framework.
  • National Terrorist Financing Risk Assessment (2015 and 2018): These reports assess the risks of TF in the United States and identify areas for improvement in the country’s counter-terrorist financing efforts.
  • US National Proliferation Financing Risk Assessment (2018): This report assesses the risks of proliferation financing in the United States and identifies areas for improvement in the country’s non-proliferation efforts.

UK-Specific Documents

The United Kingdom has a separate section in the list, which includes:

  • UK National Risk Assessment of Money Laundering and Terrorist Financing (2015, 2017, and 2020): These reports assess the risks of ML and TF in the UK and identify areas for improvement in the country’s AML/CFT framework.
  • UK National risk assessment of proliferation financing (2021): This report assesses the risks of proliferation financing in the UK and identifies areas for improvement in the country’s non-proliferation efforts.