FATF Releases New National Risk Assessment Toolkit

Posted 22 September 2025 Written by Acts Online
Category FICA

Brought to you by SA Accounting Academy: The Financial Action Task Force (FATF) has issued a new National Risk Assessment (NRA) Toolkit to assist jurisdictions in identifying and mitigating money laundering and terrorist financing risks.

In accordance with the Financial Action Task Force (FATF) standards, specifically Recommendation 1, the FATF has released a new National Risk Assessment (NRA) Toolkit. This resource is designed to assist jurisdictions in identifying, assessing, and understanding their money laundering (ML) and terrorist financing (TF) risks to ensure a more effective allocation of resources. The toolkit provides a structured methodology for both government authorities and private sector professionals to target the highest risks within their specific jurisdictions.

For South African professionals, this development informs the application of the Financial Intelligence Centre Act, No. 38 of 2001 (FICA), which mandates a risk-based approach to compliance. The toolkit and its associated annexes focus on the following objectives:

  • Identifying emerging ML/TF threats and vulnerabilities within the national financial system;
  • Developing evidence-based policies to mitigate identified risks;
  • Enhancing the effectiveness of the national Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) framework; and
  • Supporting the private sector in refining their internal risk assessments and compliance protocols.

The toolkit is intended to be a practical resource that helps professionals, including accountants and auditors, add value through risk-based advisory services while ensuring their practices remain compliant with evolving international standards.

Click here to access the FATF Money Laundering National Risk Assessment Toolkit and Annexes.

What this means for you, your business, or your clients

  • For yourself: Use the toolkit to benchmark your professional knowledge against international standards for identifying ML/TF red flags in client engagements to ensure compliance with FICA reporting obligations.
  • For your business: Update the firm’s Risk Management and Compliance Programme (RMCP) to reflect the risk-based methodologies outlined in the FATF toolkit, specifically regarding client risk profiling.
  • For your clients: Conduct enhanced due diligence for clients operating in sectors identified as high-risk by the national assessment framework to mitigate exposure to financial crime and regulatory sanctions.

Originally published at https://accountingacademy.co.za/news/read/fatf-new-national-risk-assessment-toolkit

The views expressed herein are those of the author and do not necessarily reflect those of Acts Online. Acts Online accepts no responsibility for the accuracy, completeness or fairness of the article, nor does the information contained herein constitute advice, legal or otherwise.