Philip Lowe: The next chapter Address by Mr Philip Lowe, Governor of the Reserve Bank of Australia, to the American Chamber of Commerce in Australia (AMCHAM), Perth, 21 September 2017. * * * I would like to thank Andrea Brischetto for assistance in the preparation of this talk.
These require new resources and regular upgrading of skills both among supervisors of the financial and non-financial sectors. Risk-based supervision is gradually taking precedence in AML/CFT supervisors’ approach around the globe. This approach is evidently much more data-centric and thus more demanding technically. Risk-based supervisory frameworks require AML/CFT supervisors to continuously identify, understand, assess and monitor the risk profiles of their licensees.