Money Laundering and Terrorist Financing: update of the COLB’s National Risk Assessment

Update of the NRA

On 14 February 2023, the Advisory Board for the Fight Against Money Laundering and Terrorist Financing (COLB) published an updated version of its National Risk Assessment (NRA) which takes into account the recommendations of the Financial Action Task Force (FATF) and includes input from professionals from all sectors of activity subject to AML/CFT requirements.

Objective: to identify the threats, vulnerabilities and risk levels

This update of the NRA is the result of a joint effort by all the French government departments concerned by AML/CFT issues and the competent supervisory and enforcement authorities. The publication of the NRA complies with European obligations and FATF standards. The purpose of the NRA is to identify, at a national level, the threats, vulnerabilities and resulting levels of risk in terms of ML/TF. It contributes to the effective understanding of ML/TF risks required by FATF Recommendation No.1 and the fourth AML-CTF Directive not only of States, but also of the European authorities, national supervisory authorities and obliged entities. The AMF is a member of the COLB and contributed to preparing this document.

The AMF calls on professionals to take account of the NRA

Until it publishes an update of its own sectoral risk analysis, the AMF urges the professionals placed under its supervision to familiarise themselves with the NRA update and to take it into account when drafting or updating their own risk classification.