Risk-Based Approach; National Risk Analysis

(1) The prevention and combating of money laundering and terrorist financing under the requirements of this Act follows a risk-based approach. This is without prejudice to the more specific provisions of the following Divisions of this Act.
(2) The authorities of the Federation and the Länder responsible for the prevention and combating of money laundering and terrorist financing shall participate in the national risk analysis coordinated by the Federal Ministry of Finance. Obliged entities under this Act shall be involved in the preparation of the national risk analysis and informed of its results. The national risk analysis shall take account of the risk assessment carried out by the European Commission under Article 6 of Directive (EU) 2015/849 and shall be updated regularly. Sector-specific risk analyses shall be prepared as needed.