Risk-based approach in the European anti-money laundering legislation: origins, benefits, and implications

Abstract

The major objective of the thesis is identifying the benefits and implications of the risk-based approach under the Third and the Fourth Anti-Money Laundering Directives. Thesis aims to discover why did the European AML regime shift from the rule-based approach to the risk-based approach, as well as aims to identify which benefits and implications does the risk-based approach bring and analyses how does the transition to the risk-based approach affect customer identification.