1. Financial Institutions, Designated Non-Financial Businesses and Professions, and Virtual Asset Service Providers shall identify and assess the risks of Money Laundering, Financing of Terrorism, and Proliferation Financing that may arise from the development of new products and new business practices, including new service delivery mechanisms and the use of new or developing technologies for both new and pre-existing products. 2. Financial Institutions, Designated Non-Financial Businesses and Professions, and Virtual Asset Service Providers shall assess such risks prior to the launch or use of products, practices, or technologies, and shall take appropriate measures to manage and mitigate those risks.
Interpretation and application must be checked against the official text and current version.