On 27 October 2022, the European Commission published the 2022 Supranational Risk Assessment (SNRA). This document identifies, assesses and understands anti-money laundering and financing of terrorism (ML/FT) risks and proposes the commensurate preventive measures. The 2022 document reassesses all the sectors covered by the previous 2019 publication. The ML/FT risks regarding the COVID-19 pandemic and Russia’s current invasion of Ukrainian territory have also been taken into consideration. Amongst the 43 products and services which are examined is the financial sector with a detailed overview of the risks to which it may be exposed to.
With the year-end drawing to a close, subject persons should start thinking about the annual review of the AML Business Risk Assessment. Apex Group in Malta can assist in your business review as well as drafting your business risk assessment. Contact our team on compliance-malta@apexgroup.com to start your review now.
