On 20 May 2022, the Council of Europe Economic Crime and Cooperation Division, in cooperation with the European Commission Directorate General for Structural Reform Support (DG REFORM) and Romanian authorities hosted a high-level event to present the Money Laundering and Terrorist Financing (ML/TF) National Risk Assessment of Romania.
The event marked the finalisation of Romania’s first ML/TF National Risk Assessment (NRA) process – conducted pursuant to the Council of Europe NRA Methodology – and it aimed at presenting the findings of the NRA report to high-level officials in Romania.
Representatives of institutions taking part in the National Inter-Agency Council – composed of the National Office for Prevention and Control of Money Laundering, National Bank of Romania, Financial Supervisory Authority, Ministry of Justice, General Prosecutor’s Office, Police and Intelligence Service – presented the main money laundering and terrorist financing threats identified in the ML/TF National Risk Assessment Report, including an overview of the security context of Romania regarding the threat of terrorism. Moreover, relevant supervisory authorities provided an overview of sector-specific ML/TF risks.
This Workshop set a new milestone in the NRA process, by strongly encouraging all relevant authorities to continue the development of an Action Plan on Anti-Money Laundering and Countering the Financing of Terrorism, with concrete mitigation measures for addressing the ML/TF risks identified in the Romanian NRA.
This event was organised within the framework of the Structural Reform Support Programme initiative “Money Laundering and Terrorism Financing Risk Compliance: Implementing a National Mechanism to Assess and Manage Money Laundering and Terrorism Financing Risks in Romania”, funded by the European Commission’s Directorate General for Structural Reform Support and the Council of Europe and implemented by the Council of Europe.