On 13 November 2023, the Council of Europe's Economic Crime and Cooperation Division (ECCD) organised an online presentation of the money laundering and terrorist financing (ML/TF) national and sectoral risk assessment methodologies.

The presentation brough together representatives of Financial Intelligence Units and other competent authorities from selected jurisdictions from the Middle East and North Africa (MENA) region. The aim of the event was to present the Council of Europe approach as well as the scope of existing tools to participating jurisdictions.

Participants were introduced to the Council of Europe Methodology for carrying out a ML/TF National Risk Assessment (NRA). The methodology was designed by the ECCD in 2015, and further updated in 2020 and 2022, to support jurisdictions in developing tools for conducting a comprehensive and high-quality risk assessment based on internationally recognised standards and guidelines.

Furthermore, participants could benefit from an introductory presentation to the existing proliferation financing NRA as well as the ML/TF sectoral risk assessment (SRA) tools targeting dedicated sectors such as Virtual Assets Service Providers (VASPs), Non-Profit Organisations (NPOs) as well as legal entities and legal arrangements.

National and sectoral risk assessment methodologies are effective tools for the implementation of Financial Action Task Force (FATF) risk assessment obligations. They are applicable to all interested jurisdiction upon their request on a non-for-profit basis and under the guidance of the ECCD.

The presentation was organised under the project “Promotion of good governance: fight against corruption, money laundering and financing of terrorism in the Southern Mediterranean” (SNAC V), under the joint EU/Council of Europe Programme “protecting human rights, rule of law and democracy through shared standards in the Southern Mediterranean” (South Programme V).