143. Strategies to address this challenge:

• See the advice in the section above on strengthening the risk assessment. If adequate information is available, using risk rating scales that include more risk ratings (e.g., high, medium high, medium, medium low, and low) ratings may help provide greater distinction of the relative risks of entities within and across sectors with a large number of entities than a lower number of ratings in a scale, for example a three-risk rating scale. With greater distinction, supervisors can further tailor their supervisory approach.

• Identify key players in the sector, for example those that make up a large percentage of market share or those that belong to a sub-sector presenting higher risks. It may also be possible to engage with entities providing AML/CFT compliance services for a large number of entities in a sector e.g. outsourcing of transaction monitoring or CDD. It may be possible to use economies of scale by leveraging off an inspection to one entity by making some assumptions about other entities using the same service provider, subject to any particularities/refinements adopted by individual entities and any differences in the use of the product or service.