FATF Guidance on Effective Oversight in the AML/CFT System

Abstract

Fourth round of mutual evaluations of the FATF (financial action task force on money laundering, the Financial Action Task Force on Money Laundering, FATF) was held already in 38 countries around the world. In 2018 Russia will be cheсked.One of the elements of anti-money laundering system is the oversight activities. FATF gives guidance on its effective building. It should be provided with the risk-oriented approach. On the one hand, in order to apply its limited resources to the most dangerous areas. On the other hand, does not interfere the development of legal entrepreneurs with redundant oversight actions.The purpose of this article is to attract attention of specialists for financial monitoring to Guide FATF on the application of risk-oriented approach to oversight for AML/CFT purposes. Keywords: Legalization, countering the financing of terrorism, supervision in the sphere of AML, risk-oriented approach