Action against Economic Crime in North Macedonia organised a workshop which marked the start of the money laundering (ML) and financing of terrorism (FT) risk assessment. The workshop brought together the public authorities and private sector representatives and served to update them on the applied methodology for conducting the national risk assessment, and to guide them through the process of data collection and analysis.

The ML/FT risk assessment is crucial for North Macedonia as it helps to improve the understanding of the authorities and private sector participants of money laundering and terrorist financing threats and vulnerabilities, so that they can allocate their resources to their respective supervisory, enforcement and compliance efforts more efficiently. Ultimately, the implementation of effective anti-money laundering and combating the financing of terrorism measures informed by the NRA results help safeguard the economy, enhance national security, ensure compliance with international standards, and boost investor confidence. It plays a vital role in combating financial crimes.

As the National Risk Assessment process progresses, the Action against Economic Crime in North Macedonia will continue supporting domestic authorities by providing advice towards the improvement of the draft assessment report.

This activity was organised by the ‘Action against Economic Crime in North Macedonia’, within the framework of the Horizontal Facility for the Western Balkans and Türkiye (Horizontal Facility III), co-funded by the European Union and the Council of Europe and implemented by the Council of Europe.