A national risk assessment (NRA) can impact the risk-based approach (RBA) within an organization's anti-financial crime (AFC) compliance program by: (Choose two.)

The correct answer is A. helping to identify high-risk sectors that require enhanced due diligence (EDO), C. guiding the allocation of resources for mitigating financial crime risks. A national risk assessment can identify high-risk sectors requiring enhanced due diligence and guide resource allocation to mitigate financial crime risks effectively, helping organizations align their risk- based approach with national priorities and threats.

Compliance Standards (International AML/CFT Standards and the role of FATF)

Question

Options

Ahelping to identify high-risk sectors that require enhanced due diligence (EDO),
Beliminating the need for sectoral risk assessments within the organization
Cguiding the allocation of resources for mitigating financial crime risks
Drequiring all organizations to apply standardized measures
Eautomatically reducing the organization's responsibility for conducting its own risk assessment

How the community answered

(29 responses)

A
76% (22)
B
14% (4)
D
3% (1)
E
7% (2)

Explanation

A national risk assessment can identify high-risk sectors requiring enhanced due diligence and guide resource allocation to mitigate financial crime risks effectively, helping organizations align their risk- based approach with national priorities and threats.

Topics

#national risk assessment#risk-based approach#FATF#resource allocation

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