The FATF Recommendation 1 details the need for countries to “identify, assess and understand” the ML/TF risks they face. This means that governments have the obligation to ensure that the AML/CTF strategies in place address the identified risks.
The FATF Recommendation 1 details the need for countries to “identify, assess and understand” the ML/TF risks they face. This means that governments have the obligation to ensure that the AML/CTF strategies in place address the identified risks.