Workshop Marks Start of Money Laundering and Terrorism Financing Risk Assessment in North Macedonia

Introduction

Skopje, North Macedonia (October 11, 2023) - A workshop was organized by the Action against Economic Crime in North Macedonia to initiate the money laundering (ML) and financing of terrorism (FT) risk assessment process. This event brought together public authorities and private sector representatives to provide an update on the methodology for conducting the national risk assessment.

Importance of ML/FT Risk Assessment

• The ML/FT risk assessment is crucial for North Macedonia as it helps improve understanding of money laundering and terrorist financing threats and vulnerabilities.
• Effective anti-money laundering and combating the financing of terrorism measures informed by the NRA results will help safeguard the economy, enhance national security, ensure compliance with international standards, and boost investor confidence.

Support from Action against Economic Crime

As the National Risk Assessment process progresses, the Action against Economic Crime in North Macedonia will continue supporting domestic authorities by providing advice on improving the draft assessment report. This activity is part of the Horizontal Facility for the Western Balkans and Türkiye (Horizontal Facility III), co-funded by the European Union and the Council of Europe and implemented by the Council of Europe.

Promoting Economic Stability and Security

The workshop marked an important step towards combating financial crimes in North Macedonia, with a focus on preventing money laundering and terrorist financing. The country’s commitment to addressing these issues will help promote economic stability and security.