FATF Launches New National Risk Assessment Toolkit Highlighting Crypto and Corruption Risks
28 August 2025
The Financial Action Task Force (FATF), the international body responsible for setting standards to combat money laundering and terrorist financing, has introduced a comprehensive new National Risk Assessment (NRA) toolkit to assist countries in identifying and managing the risks related to financial crime.
Designed to enhance and support the development of risk-based approaches, the toolkit aims to help governments, law enforcement agencies, and private sector entities better understand and address vulnerabilities in their financial systems.
Focus Areas: Corruption, Virtual Assets, Legal Entities, and Informal Economy
The new FATF toolkit concentrates on four priority sectors deemed critical in the fight against money laundering:
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Corruption: Highlighting the persistent threat that corrupt practices pose to the integrity of financial systems worldwide.
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Virtual Assets: Including cryptocurrencies and other digital assets, reflecting the growing adoption and associated risks of these technologies in illicit finance.
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Legal Persons and Legal Arrangements: Addressing the misuse of corporate entities and trusts to disguise illicit activities.
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Informal Economy: Recognizing the challenges in monitoring and regulating sectors that operate outside formal financial channels.
By offering practical guidance and cross-country risk insights, the toolkit helps countries estimate the proceeds of crime and identify common predicate offenses — the crimes such as drug trafficking that generate illicit profits laundered through financial systems.
A Tool for Governments and the Private Sector
Explaining the value of the toolkit, FATF President Elisa de Anda Madrazo emphasized the importance of understanding risks to effectively prioritize resources for combating financial crime.
“I encourage everyone to make use of this new toolkit to improve our collective understanding of money laundering risks,” said de Anda Madrazo. “This is the essential first step to taking a risk-based approach, which is the centrepiece of the FATF’s strategy to safeguard against crime.”
She further noted that a risk-based approach enables a proportionate response — ensuring activities are not pushed into hidden channels where oversight is impossible.
The FATF asserted that the toolkit is designed to be flexible and adaptable to country-specific needs, facilitating tailored assessments globally.
Supporting International Anti-Money Laundering Standards
This initiative complements recent updates to the FATF’s National Risk Assessment Guidance, reflecting amendments to its recommendations aimed at strengthening global AML frameworks.
The new toolkit and guidance are publicly available to support countries in aligning their National Risk Assessments with FATF standards, ultimately helping to ensure that "crime does not pay."
Related Developments in Financial Crime Compliance
As the FATF releases this toolkit, other agencies are intensifying efforts to tackle financial crime:
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Canada’s Financial Transactions and Reports Analysis Centre (FINTRAC) recently imposed a $1.075 million penalty on the British Columbia Lottery Corporation for AML compliance failures, underscoring regulatory vigilance in the casino sector.
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The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued an advisory spotlighting Chinese money laundering networks linked to drug cartels and terrorist organizations.
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In Europe, significant arrests and asset seizures, including €5 million in Italy, have taken place in fraud investigations involving SME funding.
These developments illustrate the ongoing global commitment to combat financial crime through regulatory enforcement and enhanced risk assessments.
For more information and to access the FATF National Risk Assessment toolkit, visit the official FATF website.
This article was reported by Paul O’Donoghue, Senior Correspondent at AML Intelligence.