Countries ensure that financial institutions are adequately regulated and supervised and effectively implement the Recommendations; competent authorities prevent criminals and their associates from holding or beneficially owning a significant or controlling interest or a management function in a financial institution; countries do not approve the establishment or continued operation of shell banks; for Core Principles institutions the prudential regulatory and supervisory measures relevant to money laundering apply in a similar manner for AML/CFT including consolidated group supervision; other financial institutions are licensed or registered, adequately regulated and supervised or monitored on a risk basis, with MVTS and money or currency changing services at minimum licensed or registered and subject to effective compliance monitoring. The Interpretive Note requires a risk-based approach to supervision informed by the sector's and each institution's risk profile.
The graph holds this control, the 0 it maps to, and the evidence behind each claim, over MCP and REST.