Responding to the emerging needs among competent authorities in Ukraine, the PGG project supports development of risk-based regulations pursuant to the requirements of the anti-money laundering law adopted in late 2019. Following an initial assessment, National Bank of Ukraine has been provided with key recommendations for next steps towards implementing effective anti-money laundering and counter-terrorist financing preventive measures and supervision with regard to the non-bank financial institutions, proportionate to the perceived underlying risks of money laundering and financing of terrorism. This will contribute to the efforts of the National Bank in drafting an anti-money laundering and counter-terrorist financing regulation for non-bank financial institutions and will be used by national partners when developing secondary legislation. A similar intervention is on-going with the Ministry of Finance, with respect to the entities under its supervision including accountants, real estate agents and tax advisors. The activity is part of the EU/CoE Partnership for Good Governance (PGG) Project “Strengthening measures to counter money laundering and financing of terrorism in Ukraine.”