world bank risk assessment methodology

Legal Persons and Arrangements Money Laundering Risk Assessment Tool

StAR led the development of a new module to assess money laundering risks related to legal entities and beneficial ownership-related risks, as part of the World Bank’s National Money Laundering/Terrorist Financing Risk Assessment (NRA) Toolkit. Shell companies and other legal structures (such as limited liability partnerships) have emerged as a primary mechanism for moving illicit funds around the world. The module provides a comprehensive methodology for authorities to map out key features of their country’s beneficial ownership framework and related assess ML threats and vulnerabilities. Version 1.0 of the tool was published in June 2022 alongside four other new modules on specific risks: terrorist financing, virtual assets, non-profit organizations, and environmental and natural resources.

The Legal Persons/Arrangements module consists of a guidance manual and an excel tool which can be downloaded below. 

The World Bank developed a National Money Laundering/Terrorist Financing Risk Assessment (NRA) Toolkit to support WBG client countries and jurisdictions in self-assessing their money laundering and terrorist financing risks. This approach is in line with the FATF recommendations which require that countries identify and assess ML/TF risks within their jurisdiction and tailor actions to mitigate such risks. The core WB ML/TF risk assessment tool has been used in over 100 countries since 2012.

Download the Guidance Manual

Download the excel toolkit.

The core World Bank National Money Laundering/Terrorist Financing Risk Assessment (NRA) toolkit developed by the World Bank’s Financial Integrity unit, including all new modules on specific risks related to terrorist financing, virtual assets, legal persons, non-profit organizations, and environmental and natural resources can be downloaded here: 

https://www.worldbank.org/en/topic/financialmarketintegrity/brief/national-money-laundering-and-terrorist-financing-risk-assessment-toolkit-disclaimer-and-terms-of-use  

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• Screening Resources

Background on the Screening Methodology

Screening Resources: Background on the screening methodology

The tools apply an Exposure–Impact–Adaptive-capacity framework to assess risks . The framework incorporates elements of the risk analysis framework adopted by the Intergovernmental Panel on Climate Change (IPCC) and the framework for vulnerability assessment used by the United States Agency for International Development’s (USAID’s), with some modifications. For further background information see:

-  A methodology document for the project level tool based on an illustrative example of the framework applied through the Roads tool.

-  A methodology document for the national/policy level tool

- IPCC, Climate Change 2014: Impacts, Adaptation, and Vulnerability, Contribution of Working Group II to the Fifth Assessment Report of the Intergovernmental Panel on Climate Change (2014) ( http://www.ipcc.ch/report/ar5/wg2/ )

- N. Brooks, “Vulnerability, Risk and Adaptation: A Conceptual Framework” Working Paper No. 38 (Tyndall Centre, 2003 ( https://www.researchgate.net/publication/200032746_Vulnerability_Risk_and_Adaptation_A_Conceptual_Framework )

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Publication: Catastrophe Risk Assessment Methodology

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Publication details

As amended June 2023.

The FATF conducts mutual evaluations of its members’ levels of implementation of the FATF Recommendations on an ongoing basis. These are peer reviews, where members from different countries assess another country. The  FATF Methodology for assessing compliance with the FATF Recommendations and the effectiveness of AML/CFT systems sets out the evaluation process.  

Assessments focus on two areas, effectiveness and technical compliance .  

• The emphasis of any assessment is on effectiveness .  A country must demonstrate that, in the context of the risks it is exposed to, it has an effective framework to protect the financial system from abuse.   The assessment team will look at 11 key areas, or immediate outcomes, to determine the level of effectiveness of a country's efforts.  
• The assessment also looks at whether a country has met all the technical requirements of each of the 40 FATF Recommendations in its laws, regulations and other legal instruments to combat money laundering, and the financing of terrorism and proliferation.  

A mutual evaluation report provides an in-depth description and analysis of a country’s system for preventing criminal abuse of the financial system as well as focused recommendations to the country to further strengthen its system.  

The Methodology will be used by the FATF, the FATF-Style Regional Bodies (FSRBs) and other assessment bodies such as the IMF and the World Bank.   The Methodology was adopted on 22 February 2013, and regularly updated;  (see also ' Information on updates made to the FATF Methodology ').

Methodology 2013

Related content: .

• Consolidated Processes and Procedures for Mutual Evaluations and Follow-Up Universal Procedures The set of core elements that apply to all anti-money laundering and counter-terrorist financing assessments, in accordance with the FATF 2013 Methodology. These procedures were last revised in September 2022.
• Procedures for the FATF Fourth Round of AML/CFT Mutual Evaluations This document sets out the procedures that are the basis for the fourth round of mutual evaluations which involves two inter-related components for technical compliance and effectiveness. Adopted in 2013, these Procedures were last amended in February 2023.
• Mutual Evaluations What is involved in a mutual evaluation? A simple explanation of the various stages and parties involved in the assessment of the effectiveness of a country's measures to combat money laundering and the financing of terrorism and proliferation.
• Consolidated assessment ratings An up-to-date overview of the ratings on both effectiveness and technical compliance for all countries assessed against the 2012 FATF Recommendations and using the 2013 Assessment Methodology.

An effective system to combat money laundering and terrorist financing

What is the objective of anti-money laundering, counter terrorist and counter proliferation financing efforts?  Find out more about the various components that governments must implement, and that the FATF will assess against.

Information on updates to the Methodology

Translations.

The following are unofficial, working translations of the FATF Methodology, that are provided for information only. 

Russian Translation of FATF Methodology

Russian translation provided by MUCMCFM

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National Risk Assessment toolkit

Documents related to the National Risk Assessment toolkit

7/6/2015 12:27:00 PM

7/6/2022 12:27:00 PM

Finance and Financial Sector Development

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World Bank Group Announces New Approach to Measuring Impact

The World Bank Group is radically changing the way it tracks results, putting the focus squarely on lives improved rather than money out the door.

WASHINGTON, April 9, 2024 —The World Bank Group is developing a new corporate scorecard that will track results across 22 indicators—a fraction of the previous 150—to provide a streamlined, clear picture of progress on all aspects of the World Bank Group’s mission, from improving access to healthcare to making food systems sustainable to boosting private investment.

For the first time, the work of all World Bank Group financing institutions will be tracked through the same set of indicators. The new scorecard will track the Bank’s overarching vision of ending poverty on a livable planet.    

“The new scorecard is a significant step forward in how we will measure results and be accountable for the outcomes,” said Anna Bjerde, World Bank Managing Director of Operations . “It’s a real game changer, providing a new guidepost that our teams can rally around, and provides full visibility on how well we are tackling the most difficult challenges like poverty, climate change, fragility, and food insecurity.”

This is an important milestone in the World Bank Group’s efforts to focus on outcomes, rather than inputs. For example, instead of showing how many people have access to financial services, we will focus on the number of people that use them. This will drive action towards results and allow us to course-correct throughout.

The indicators have been carefully selected through wide consultation with shareholders and partners. The goal is to measure key outcomes, manage with evidence, and communicate results.

The scorecard will provide a yardstick for us on how we deliver on our new mission and vision and redouble our focus on accountability and impact.

All the data and underlying methodologies will be available in a user-friendly online platform that will make it easier to harmonize results measurement with other multilateral development banks.

Adding a more detailed breakdown of the data will also enhance the Bank Group’s ability to disaggregate results by gender, youth, region, country groups, and other parameters, improving the ability to make the right decisions for development.

The new scorecard will serve as an important management tool, with detailed results showing exactly how many people have benefited from our operations—and the results will inform future investment and project decisions.

The World Bank Group will report the first results in coming months and will have all data ready to share at the 2024 IMF-World Bank Group Annual Meetings. Annual updates will be released from FY24 until FY30. 

22 New Indicators

1.     Millions of beneficiaries of social safety net programs

2.     Millions of students supported with better education

3.     Millions of people receiving quality health, nutrition, and population services

4.     Millions of people benefitting from strengthened capacity to prevent, detect, and respond to health emergencies

5.     Countries at high risk or in debt distress that implemented reforms toward debt sustainability

6.     Countries with tax revenues to GDP ratio at or below 15% (including social security contributions) that have increased collections, considering equity

7.     Net GHG emissions per year

8.     Millions of people with enhanced resilience to climate risks

9.     Millions of hectares of terrestrial and aquatic areas under enhanced conservation and management

10.  Millions of people provided with water, sanitation, and hygiene, of which (%) is safely managed

11.  Millions of people with strengthened food and nutrition security

12.  Millions of people that benefit from improved access to sustainable transport infrastructure and services

13.  Millions of people provided with access to electricity

14.  GW of renewable energy capacity enabled

15.  Millions of people using broadband internet

16.  Millions of people using digitally enabled services

17.  Millions of people benefitting from greater gender equality, of which (%) from actions that expand and enable economic opportunities

18.  Millions of people and businesses using financial services, of which (%) are women

19.  Millions of new or better jobs

-        of which (%) for women

-        of which (%) for youth

20.  Millions of displaced people and people in host communities provided with services and livelihoods

21.  $ billions in total private capital enabled

22.  $ billions in total private capital mobilized

In Washington: David Theis, (202) 203-0601, [email protected]

For Broadcast Requests : David W. Young, (202) 250-0395, [email protected]

Websites: worldbank.org ; ifc.org ; miga.org

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World Bank Group Corporate Scorecard

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World Bank unveils new scorecard to measure accountability

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