Money Laundering and Terrorist Financing: the COLB publishes the National Risk Assessment
The Advisory Board for the Fight Against Money Laundering and Terrorist Financing (COLB) published its National Risk Analysis (NRA) on 20 September. The purpose of the document is to identify the money laundering and terrorist financing (ML/TF) threats and the resulting risk level nationally. The AMF calls upon all regulated professionals to take account of this assessment when drafting or updating their own risk classification.
Objective: to identify the threats, vulnerabilities and risk levels
The purpose of the National Risk Analysis (NRA) is to identify the ML/TF threats, vulnerabilities and resulting risk level nationally. It contributes to the effective understanding of ML/TF risks required by FATF Recommendation N°1 and the 4th AML-CTF Directive not only of States, but also of the European authorities, national supervisory authorities and relevant entities. The Autorité des Marchés Financiers (AMF) is a member of the COLB and took part in the preparation of this document.
The AMF urges professionals to take account of the assessment
Pending publication of its own sectoral risk analysis, the AMF urges the professionals placed under its supervision to familiarise themselves with the NRA published by the COLB and to take account of it when they are drafting or updating their own risk classification.
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