On 28 January 2022, the Council of Europe Economic Crime and Cooperation Division (ECCD) conducted an on-line training for the Bulgarian authorities on the implementation of the recently developed Council of Europe Methodology on the Non-Profit Organisations’ (NPOs) Sectoral Terrorist Financing Risk Assessment.
The main objective of the event was to train the authorities’ representatives to effectively apply the Methodology and its data analysis and data gathering tools. Members of the permanent National Risk Assessment and Management Working Group (NRAM WG) such as the Bulgarian Financial Intelligence Unit, State Agency for National Security, Bulgarian National Bank, Financial Supervision Commission, National Revenue Agency and Commission for Anti-Corruption and Illegal Assets Forfeiture benefited therefore from detailed clarifications regarding each stage of the assessment and discussed possible ways of addressing the challenges that may occur in the process.
The event was also attended by the representatives of the Bulgarian Center for Not-for-Profit Law (BCNP) who presented their analysis of the NPOs registered in Bulgaria regarding their relevance to the FATF definition. As foreseen in the Council of Europe Methodology, the involvement of the NPO sector in the risk assessment process will be a strong asset, as it aims to ensure sustainable results and appropriate follow-up regarding mitigation of identified TF risks by at-risk NPOs.
The training was the first step in a wider effort of supporting Bulgaria in conducting its first NPOs’ Sectorial Terrorist Financing Risk Assessment. As a follow up, the Council of Europe delivered the Methodology and its data gathering tools to the NRAM WG members. It will also ensure that the authorities benefit from tailored assistance and expert guidance throughout the assessment process.
The activity was organised within the framework of the Structural Reform Support Programme initiative “Enhancing Capabilities of Bulgarian Authorities to Effectively Mitigate Money Laundering and Terrorism Financing Risks”, funded by the European Commission Directorate General for Structural Reform Support (DG REFORM) and the Council of Europe and implemented by the Council of Europe.