FATF Launches New Risk Assessment Toolkit to Help Tackle Money Laundering Risks
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The Financial Action Task Force (FATF) has released a new National Risk Assessment (NRA) Toolkit on 28 August 2025, designed to help countries identify and manage their most serious money laundering threats. This is a significant step forward in the global fight against financial crime, and one that has direct implications for accountants. Every year, criminal activities such as corruption, fraud, and drug trafficking generate trillions of dollars in illicit proceeds. When this money is laundered back into the financial system, it fuels further crime and undermines economies. For countries to respond effectively, they need to first understand where their greatest risks lie. That’s exactly what the new FATF NRA Toolkit aims to help with: supporting governments and professionals in developing a risk-based approach to anti-money laundering (AML).
“To effectively fight financial crime, we need to have a clear understanding of the risks we face. A risk-based approach ensures smart prioritisation of resources and helps keep criminal activity out of the shadows”
What’s in the Toolkit?
The toolkit provides:
Cross-country data on proceeds of crime and common laundering methods
Insights into global and regional trends
Case studies from FATF member countries
Guidance on data gaps and how to address them
It is flexible and can be used for national (country level) risk assessments, sector-specific reviews or support in shaping AML strategies. The FATF has also updated its broader National Risk Assessment Guidance.
Key Focus Areas
The FATF has identified four areas of heightened risk, all of which are challenging to assess but critical to address:
Corruption
Abuse of public office and diversion of funds remain a major source of illicit finance.Virtual Assets and VASPs (Virtual Asset Service Providers)
Crypto-assets continue to present fast-evolving risks and are often used to bypass traditional controls.Legal Persons and Legal Arrangements
Shell companies and complex ownership structures make it difficult to trace beneficial owners.The Informal Economy
Cash-heavy and unregulated sectors can become safe havens for laundering activity.
These risk areas are often interconnected, for example: corrupt funds may be moved through shell companies or converted into crypto to hide their origin.
What This Means for Accountants
Whether in public practice or commerce, accountants play a key role in detecting and preventing financial crime. This toolkit can help accountants:
Improve client risk assessments
Understand and apply AML obligations more effectively
Strengthen due diligence procedures
Identify risks in emerging areas like crypto and informal trading
It also supports a proportional approach, focusing attention on high-risk areas without burdening lower-risk clients with unnecessary red tape.
In Summary
The new toolkit is a practical resource to help both governments and professionals target the highest money laundering risks. Accountants can use it to add value through risk-based advisory services, protect clients, and remain compliant. The toolkit also helps position accountants as trusted experts in a fast-changing compliance environment.
