Proactive release – Documents relating to Implementing the recommendations of the AML/CFT statutory review [pdf, 2.6 MB]
...Risk Assessment of Money Laundering and Terrorism Financing (NRA) [DEV-19-MIN-0270 refers] has not been met. The now outdated NRA undermines the strategic risk-based approach. 23 The Ministry also considers that the regime is not sufficiently resourced to deliver its functions. The Ministry received clear feedback from the private sector and agencies that the level of resourcing is preventing the regime from being responsive to industry needs and the changing financial crime landscape...