When certainty equivalence holds, it is optimal for policymakers to respond to the expected values of their targets as if they held these values with complete certainty. In a sense, uncertainty has no effect on policy in this case, though it results in some decline of its effectiveness.
This four-day Seminar will focus on the measures that AML/CFT supervisors should adopt to establish risk-based mechanisms, tools and practices to oversee the effectiveness with which their licensees manage their money laundering and financing of terrorism (ML/TF) risks.