Key insights from the NRA highlight substantial risks associated with predicate offenses such as fraud, organised crime, corruption, tax crimes, and trade-based money laundering. The banking sector, including wealth management, emerges as a high-risk area, while corporate service providers in the designated non-financial businesses and professions (“DNFBPs”) sectors also face notable threats. Sectors like digital payment token service providers, real estate, and precious stones and metals dealers are identified as having elevated risks.
The NRA findings, combined with other risk assessments, provide valuable insights for stakeholders. Financial institutions (“FIs”) and DNFBPs can use this information to identify and address priority risks promptly. Leveraging the NRA helps strengthen risk assessments and enhance controls, particularly in sectors with heightened money laundering risks.
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