Financial Crime World

Here’s the rewritten article in Markdown format with proper headings, subheadings, and bullet points:

CHAPTER II. NATIONAL RISK ASSESSMENT

Article 3

(1) Conducting a National Risk Assessment

The Republic of North Macedonia shall conduct a national risk assessment of money laundering, financing of terrorism, financing the proliferation of weapons of mass destruction, and other related risks to identify, assess, understand, and reduce the risk associated with money laundering and financing of terrorism. This assessment shall be updated at least every four years.

(2) Coordination and Preparation of Report

The Council for Combating Money Laundering and Financing of Terrorism, referred to in Article 125 of this Law, shall coordinate the activities related to conducting the national risk assessment in the Republic of North Macedonia and prepare a report on the national risk assessment of money laundering and financing of terrorism.

(3) Submission of Report

The Council for Combating Money Laundering and Financing of Terrorism shall submit the report on the national risk assessment of money laundering and financing of terrorism to the Government of the Republic of North Macedonia for adoption.

(4) Publication of Report

The report on the national risk assessment, as well as any amendments or supplements thereto, shall be published on the website of the Office. However, the published report shall not contain confidential data in accordance with the Law.

Purposes of National Risk Assessment


  • Identify and assess the risks associated with money laundering and financing of terrorism
  • Understand the nature and scope of these risks
  • Develop effective measures to prevent, detect, and investigate money laundering and financing of terrorism
  • Allocate resources efficiently to combat money laundering and financing of terrorism

Definition of Terms


For the purposes of this Law, the following terms shall have the meanings specified below:

1. Anti-money laundering

Activities aimed at preventing and combating money laundering.

2. Financial intelligence unit

A central national body responsible for receiving and analyzing reports of suspicious transactions and other information related to money laundering and financing of terrorism.

3. High-risk countries

Countries that have not implemented or insufficiently implemented international standards for the prevention of money laundering and financing of terrorism, as well as countries identified by the FATF, the European Union, and countries for which competent international bodies seek to take appropriate countermeasures or countries determined in accordance with the national risk assessment.

4. Money laundering

The concealment or disguise of the origin, nature, or destination of proceeds derived from a criminal activity, including financing of terrorism.

5. Non-profit organizations

Legal entities, legal arrangements, or organizations primarily involved in fundraising or allocation of funds for charitable, religious, cultural, educational, or social purposes.

6. National risk assessment

A comprehensive process for identifying and analyzing the risks associated with money laundering and financing of terrorism, as well as other related risks, to develop adequate measures for prevention and efficient allocation of resources.

Please note that this is an unofficial translation of the Law on Prevention of Money Laundering and Financing of Terrorism in the Republic of North Macedonia. For official purposes, please refer to the original text in Macedonian language.