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National Risk Assessment (No 1) 2016/2017

National Risk Assessment (No 1) 2016/2017

 

In the framework of this exercise, 5 working groups were set up and examined and analysed the following topics:

 the AML/CFT threat ;

the general vulnerability of the Principality in terms of AML/CFT;

the specific vulnerability of the financial sector (banks, securities, insurance)

the specific vulnerability of other financial activities;

the vulnerability of other sectors (designated non-financial businesses and professions - DNFBP).

 

 

A kick-off workshop was held in Monaco in December 2015, followed by the setting up of working groups.

As part of the process, a second workshop, involving the World Bank monitoring team, took place in Monaco on 13-14 June 2017. During this workshop, the results of the ENR were presented to the relevant authorities and professionals involved in AML/CFT.

 

N.B.: This document is a synthesis that takes into account the work carried out by groups 1 to 4 and their contributions.

 

On the other hand, the work of group 5 carried out during the first ENR in 2016/2017 remained incomplete. In particular, the sectors corresponding to traders in high-value items and the regulated professions referred to in Article 2 of Act No. 1.362 as amended could not be included in this document. Difficulties, both in the organisation of the working group devoted to the EPNFD and in the appropriation of the World Bank's methodology, explain why this work could not be completed at the time.

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