Another great video. At least in case of Bangladesh, the NRA is fundamentally flawed in that it does not cover emerging technologies and religious trust fund( thousands of them, fully unregulated), among others. Interestingly, both APG and FATF keep ignoring this serious omissions and keep rating high for technical compliances.
It has been the common issue that the NRA's have merely focused on making a "status quo" and not been used as a strategic measure, which would be more in line with the risk-based approach. However, we can hope for improvements in this field.
Again, very helpful.
Another great video. At least in case of Bangladesh, the NRA is fundamentally flawed in that it does not cover emerging technologies and religious trust fund( thousands of them, fully unregulated), among others. Interestingly, both APG and FATF keep ignoring this serious omissions and keep rating high for technical compliances.
It has been the common issue that the NRA's have merely focused on making a "status quo" and not been used as a strategic measure, which would be more in line with the risk-based approach. However, we can hope for improvements in this field.