27. The FATF Standards do not prescribe a particular risk assessment methodology, and there is no one-size fits all approach. Ideally, a risk methodology should be flexible, practical and take into consideration specific features and characteristics of the jurisdiction. Recognizing that jurisdictions have faced challenges in identifying TF risk to date, the following paragraphs present practical examples of the different approaches that jurisdictions have taken to identify risk. The purpose of this analysis is to highlight the elements of the various TF risk assessment methodologies, including the similarities and differences, rather than to provide a strict formula for how jurisdictions should assess their TF risks.

Information Collection

28. An assessment of TF risks will require collecting a wide range of quantitative and qualitative information, including on the general criminal environment, TF and terrorism threats, TF vulnerabilities of specific sectors and products, and the jurisdiction's general CFT capacity. Based on jurisdiction experience, collection techniques may include: gathering of aggregate statistics or information from government sources (whether classified or unclassified), use of domestic and regional questionnaires, online surveys, interviews, working groups and seminars, and gathering open source information. Textbox 2.1 below describes the approach taken by authorities to collect information for the 2016 TF Regional Risk Assessment of South East Asia and Australia.