Publication:
National Assessments of Money Laundering Risks: Learning from Eight Advanced Countries’ NRAs

Simple item page
dc.contributor.authorFerwerda, Joras
dc.contributor.authorReuter, Peter
dc.date.accessioned2022-04-14T15:27:32Z
dc.date.available2022-04-14T15:27:32Z
dc.date.issued2022
dc.description.abstractThe Financial Action Task Force (FATF) requires national governments to demonstrate an understanding of the money laundering risks in the country. Such an understanding is the foundation for effective control of money laundering under the risk-based approach the FATF calls for. The authors analyzed the National Risk Assessments (NRAs) published by eight systemically important countries to test whether they demonstrate that basic understanding and to draw lessons for national governments from those NRAs. The eight show very different conceptualizations, analytic approaches, and products. Each raises serious issues regarding the risk assessment methodology. For example, most relied largely on expert opinion, which they solicited in ways that are inconsistent with the well-developed methodology for making use of expert opinion. They misinterpreted data from suspicious activity reports and failed to provide risk assessments relevant for policy makers. Only one described the methodology employed. Although the challenge of conducting strong risk assessments is great, given the difficulty of estimating the extent of money laundering in any sector, the findings based on this limited sample point to ways to improve substantially on existing practices. The report concludes with a set of suggestions for (international) policy makers and those conducting NRAs for improving risk assessments. Suggestions include increased clarity about the conceptualization of risk, transparency about data and methods so that each country can learn from others, and the adoption of more formal and standardized methods of eliciting expert opinion.en
dc.identifierhttp://documents.worldbank.org/curated/en/099302204122255265/IDU02386c9b80f623045e70bf8a09a30b6162595
dc.identifier.doi10.1596/37305
dc.identifier.urihttps://hdl.handle.net/10986/37305
dc.languageEnglish
dc.publisherWorld Bank, Washington, DC
dc.relation.ispartofseriesEQUITABLE GROWTH, FINANCE & INSTITUTIONS INSIGHT;
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo
dc.subjectFINANCIAL ACTION TASK FORCE (FATF)
dc.subjectMONEY LAUNDERING RISK ASSESSMENT
dc.subjectINTERNATIONAL MONEY LAUNDERING POLICY
dc.subjectCRIMINAL MONEY
dc.subjectANTI-MONEY LAUNDERING (AML) REGIME
dc.subjectILLEGAL MONEY
dc.subjectCRIME
dc.titleNational Assessments of Money Laundering Risksen
dc.title.subtitleLearning from Eight Advanced Countries’ NRAsen
dc.typeReporten
dc.typeRapportfr
dc.typeInformees
dspace.entity.typePublication
okr.crossref.titleNational Assessments of Money Laundering Risks
okr.date.disclosure2022-04-12
okr.date.doiregistration2025-05-07T10:09:46.861152Z
okr.date.lastmodified2022-04-12T00:00:00Zen
okr.doctypeReport
okr.doctypePublications & Research
okr.docurlhttp://documents.worldbank.org/curated/en/099302204122255265/IDU02386c9b80f623045e70bf8a09a30b6162595
okr.guid099302204122255265
okr.identifier.externaldocumentum33784461
okr.identifier.internaldocumentum33784461
okr.identifier.report170374
okr.importedtrueen
okr.language.supporteden
okr.pdfurlhttp://documents.worldbank.org/curated/en/099302204122255265/pdf/IDU02386c9b80f623045e70bf8a09a30b6162595.pdfen
okr.topicSocial Development::Crime and Society
okr.topicConflict and Development::National Protection and Security
okr.topicFinance and Financial Sector Development::E-Finance and E-Security
okr.topicFinance and Financial Sector Development::Anti-Money Laundering
okr.unitFinance ＆ Markets - GP - IBRD (GFMDR)
Files
Original bundle
Now showing 1 - 2 of 2
Thumbnail Image
Name:
IDU02386c9b80f623045e70bf8a09a30b6162595.pdf
Size:
5.23 MB
Format:
Adobe Portable Document Format
Download
No Thumbnail Available
Name:
IDU02386c9b80f623045e70bf8a09a30b6162595.txt
Size:
200.37 KB
Format:
Plain Text
Download
License bundle
Now showing 1 - 1 of 1
No Thumbnail Available
Name:
license.txt
Size:
1.71 KB
Format:
Plain Text
Description:
Download
Collections
Anti-Money Laundering/CFT Assessment
Equitable Growth, Finance & Institutions Insight