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Version date: 5 July 2019 - onwards

Part 5: Follow up and Maintaining an Up-to-date Assessment of Terrorist Financing Risks

75. Jurisdictions should ensure that the findings of the TF risk assessment are endorsed by senior officials, and that all key stakeholders have a common understanding of the outcomes and the relative measures of risk (i.e. "low" or "high" across different types of TF risk, and/or compared to other domestic crimes). The FATF Standards require that jurisdictions have a mechanism to ensure that competent authorities and respective financial institutions, DNFBPs and other relevant sectors are aware of the results of national TF risk assessment(s). Given the sensitive nature of terrorism and TF-related information, experience highlights the particular benefits of disseminating a sanitized version of the report, and holding closed briefings with key stakeholders to ensure there is a common understanding of the outcomes.

76. An assessment of TF risk should result in clear and practical follow-up actions. Such follow-up actions may include (but are not limited to): amendments in CFT legislation and policies to address identified deficiencies, allocation of resources or training to key authorities, development of platforms or mechanisms to enhance information sharing on TF, enhanced engagement with sectors or institutions identified as vulnerable to TF, and/or implementation of a more systemic mechanism for collecting and maintaining TF or terrorism related information. Experience to date highlights the importance of clearly allocating and codifying (if possible) which authorities are responsible for follow-up actions (including updating the risk assessment), as well as setting timelines.