A workshop on the risk-based approach to supervision of construction and real estate sectors, but also of accountants and auditors took place in was held in Podgorica on 17 March 2022.

The workshop assisted supervisory authorities in producing a questionnaire for reporting entities, and in drafting a risk matrix to score the inherent risks and vulnerabilities of the real estate sector. The matrix is based on the input received from the reporting entities through the questionnaire.

The questionnaire and risk matrix will facilitate gathering and processing of large data that will help authorities in better understanding the risk profile of reporting entities (including customer risk, products and services risks, delivery channels risk, geographical risk). Both of these products will also be instrumental in obtaining insights into the compliance levels with AML/CFT policies and procedures of the reporting entities.

Once developed, this risk assessment will result in offsite and onsite plans to better monitor reporting entities.

This workshop was organized within the framework of the EU/Council of Europe Horizontal Facility for Western Balkans and Turkey Phase II – Action against Economic Crime in Montenegro (AEC-MNE).