FATF Releases Updated Guidance For Lawyers, Accountants & Corporate Service Providers

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This week the FATF has released updated guidance on the risk-based approach (RBA) for lawyers, accountants and Trust and Company Service Providers.

The guidance sets out a general understanding of what this approach (RBA) includes, outlines high-level principles related to the application of RBA and also indicates the benefits of implementing the approach for governments and legal specialists.