Terrorist Financing Detection: Montserrat Publishes First National Risk Assessment

A Comprehensive Document to Combat Money Laundering and Terrorist Financing

The Government of Montserrat has published its first National Risk Assessment (NRA) 2023, a comprehensive document detailing the island’s vulnerabilities to money laundering and terrorist financing. The report highlights the risks, exposure, and mitigating factors that Montserrat faces in relation to these crimes.

Collaborative Effort

The NRA was compiled through a collaborative effort between government agencies and private sector stakeholders. It identifies a range of threats and vulnerabilities that could potentially be exploited by criminals. However, the document also outlines practical strategies for mitigating and managing these risks, empowering the public and private sectors to proactively safeguard Montserrat’s well-being.

Call to Action

The National Risk Assessment serves as a “call to action”, urging stakeholders to work together to address the identified risks and build a more resilient future for the island. The report provides a roadmap for strategic decision-making, guiding the allocation of resources and informing the development of effective policies and mitigation strategies.

Importance of the NRA

According to officials, the NRA is a crucial step towards building a safer and more secure Montserrat. “The National Risk Assessment lays the groundwork for strategic decision-making, guiding the allocation of resources and informing the development of effective policies and mitigation strategies,” explained NAMLAC.

Accessing the Report

The full document and summary can be accessed on the Government of Montserrat website, providing stakeholders with valuable information on the full spectrum of national money laundering and terrorist financing risks. The report outlines each risk in detail, supported by data, expert judgments, and comprehensive explanations, as well as prioritizing the most pressing threats and vulnerabilities demanding immediate attention.

Review Cycle

The National Risk Assessment will be reviewed every 2-3 years to assess progress in mitigating national or sector-specific threats and vulnerabilities exposure.