Wolfsberg provides feedback on FATF’s proposed amendments to Rec. 1, 10, and 15, advocating for tailored ‘alternative measures’ to enhance financial inclusion, while safeguarding AML/CFT efforts

Key highlights include; Risk-based regulations are crucial-excessive AML/CFT measures that don’t align with risks are ineffective and inefficient, Unintended consequences, like limiting financial access to underserved communities, can undermine the effectiveness of AML/CFT regimes, An effective AML/CFT program reduces customer friction while supporting financial inclusion objectives…