Luxembourg’s Fight Against Terrorist Financing: A Glimpse into the National Money Laundering/Terrorist Financing Risk Assessment Toolkit
Introduction
In an effort to combat the menace of terrorist financing, Luxembourg has sought assistance from the World Bank Group (WBG) in developing a comprehensive toolkit designed to help jurisdictions assess their vulnerability to money laundering and terrorist financing risks.
The National Money Laundering/Terrorist Financing Risk Assessment (NRA) Toolkit
The NRA Toolkit is a state-of-the-art resource that provides guidance manuals, Excel worksheets, PowerPoint presentations, and other materials to support self-assessments. The toolkit includes:
- Guidance manuals for conducting risk assessments
- Excel worksheets for data collection and analysis
- PowerPoint presentations for stakeholder engagement and training
Key Features of the NRA Toolkit
The NRA Toolkit offers a range of features that make it an invaluable resource for jurisdictions looking to assess their money laundering and terrorist financing risks. These include:
- Comprehensive guidance: The toolkit provides detailed guidance on conducting risk assessments, including step-by-step instructions and examples.
- Customizable templates: The Excel worksheets and other templates can be customized to suit the specific needs of each jurisdiction.
- Technical assistance: The WBG offers technical assistance to ensure proper usage of the toolkit.
Disclaimer
While the NRA Toolkit has been provided in good faith, its accuracy and applicability are not guaranteed. The WBG explicitly disclaims all warranties, including fitness for a particular purpose, non-infringement, or accuracy of the results derived from using the toolkit.
Liability
The Luxembourg government must take responsibility for any data, statistics, or other information entered into the NRA Toolkit templates, as well as for interpreting and concluding based on the results. The WBG will not be held liable for errors, omissions, or interruptions in the toolkit’s functionality.
FATF Compliance
The use of the NRA Toolkit does not provide a guarantee against adverse findings from the Financial Action Task Force (FATF) or regional bodies. Moreover, the toolkit does not constitute legal advice or an official interpretation of FATF documents.
Conclusion
Luxembourg’s commitment to combating terrorist financing is reflected in its reliance on the NRA Toolkit, which will serve as a valuable resource in assessing and mitigating money laundering and terrorist financing risks within its jurisdiction.