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EU-Funded Project Aims to Strengthen AML/CTF Supervision and International Cooperation
A new European Union-funded project has been launched in [Country Name] aimed at strengthening anti-money laundering (AML) and combating the financing of terrorism (CFT) supervision, as well as enhancing international cooperation between law enforcement agencies and financial institutions.
Project Objectives
The project, which will run for three years, is designed to:
- Improve the timing and quality of replies to international assistance requests from foreign counterparts
- Increase the AML/CFT supervisory skills of designated supervisors
- Reinforce the supervisory and regulatory framework in [Country Name]
Key Objectives
One of the key objectives of the project is to enhance the country’s ability to respond effectively to international assistance requests related to money laundering and predicate offences, such as corruption. This will be achieved through:
- Development of MLA guidance
- Specialized trainings for law enforcement, financial intelligence units (FIUs), and supervisors on non-MLA international information exchange channels and good practices
Additional Focus Areas
The project will also focus on:
- Improving beneficial ownership transparency by analyzing the possibility of launching a central registry to obtain, record, and verify beneficial ownership information
- Providing training for FIUs and supervisory authorities on AML/CFT supervision and risk assessment
Stakeholder Engagement
The project will involve close collaboration with key stakeholders in [Country Name], including:
- Law enforcement agencies
- Financial institutions
- Regulatory authorities
Project Team
The project will be implemented by a consortium of international experts, including [names of organizations and individuals].
Project Manager Quote
“We are excited to work on this project and contribute to the strengthening of AML/CFT supervision and international cooperation in [Country Name],” said [Name], Project Manager. “Our team looks forward to collaborating closely with local stakeholders to achieve the project’s objectives.”
Project Monitoring and Evaluation
The project’s progress will be monitored through regular reporting, including:
- Inception report
- Annual progress reports
- Final evaluation report
The project will also include several meetings and conferences to ensure stakeholder engagement and knowledge sharing.
Expected Impact
Overall, this project is expected to have a significant impact on [Country Name]’s ability to combat money laundering and terrorist financing, and will contribute to the country’s efforts to strengthen its financial sector and maintain its reputation as a stable and secure jurisdiction.