Risk-based AML measures to support financial inclusion

In October, the Financial Action Task Force (‘FATF’) issued its guidance for the banking sector, which alongside its statement on derisking practices, sets an international agenda for the use of risk-based anti-money laundering and terrorist financing measures to build a more inclusive financial system. Rachpal Thind, a Partner at Sidley examines how firms will need to reassess current policies and procedures in light of the FATF’s new guidance.