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This Guidance recognises that an effective Risk-Based Approach (RBA) will build on, and reflect, a country’s legal and regulatory approach, the nature, diversity and maturity of its banking sector and its risk profile. It sets out what countries should consider when designing and implementing a RBA; but it does not override the purview of national competent authorities. When considering the general principles outlined in the Guidance, national authorities will have to take into consideration their national context, including the supervisory approach and legal framework. The purpose of this Guidance is to i) outline the principles involved in applying a risk-based approach to AML/CFT; ii) assist countries, competent authorities and banks in the design and implementation of a risk-based approach to AML/CFT by providing general guidelines and examples of current practice; iii) support the effective implementation and supervision of national AML/CFT measures, by focusing on risks and on mitigation measures; and iv) above all, support the development of a common understanding of what the risk-based approach to AML/CFT entails.