156. Through the advances in finance and technology today, the risks can change faster than before. Outdated assessments can undermine risk-based supervision. As set out in section 2.4, it is important to keep risk assessments under review and updated so that resources can be targeted to the highest risk areas.

157. Strategies to address this challenge:

• Supervisory authorities should also be fast and agile in understanding the risks and, if possible, take the advantage of SupTech in monitoring the risks in real time/on a continuous basis. They also need to have the flexibility to adapt their supervision approach and plans to promptly address the emerging ML/TF risks. See the section on 'use of technology'.