We now have a broader perspective of the effectiveness of such an approach to supervision, as well as the challenges it brings. Some of the key takeaways include the need to have well-designed and effective AML/CFT policies and supervisory frameworks, to help foster greater financial inclusion, and the importance of having a continuous risk assessment process.
Limitations of the different regulatory and supervisory entities, in particular the cost, the availability and the allocation of resources, were also highlighted, with a specific focus on the need for such challenges to be understood both at the institutional and national levels.