The Council of Europe Economic Crime and Cooperation Division (ECCD) has been supporting the North Macedonian authorities in conducting the Money Laundering and Terrorist Financing (ML/TF) National Risk Assessment (NRA) since September 2023. The process was launched through the organisation of a workshop on 20 September 2023, which aimed at updating the national authorities and private sector representatives on the practical application of the ML/TF NRA Methodology. 

Targeted technical assistance was provided to competent authorities throughout the different NRA stages, including data collection, analysis and drafting of the NRA report. For instance, on 5-7 June 2024, the ECCD organised a workshop for over 50 public and private sector representatives of the, in Ohrid, North Macedonia, to assist support them with the analysis of the collected data on money laundering, terrorist financing and proliferation financing. During the three-day workshop, participants benefitted from expert advice and guidance for developing the various report modules. As the next step, authorities received support in consolidating the first draft NRA report. Moreover, the ECCD conducted an expert review of the draft report and provided recommendations for its further improvement in line with international standards. Finally, a consultative meeting was organised on 15 October 2024 with the aim of addressing any outstanding issues and gaps, as well as finalise the NRA report. The meeting facilitated substantive discussions among the stakeholders engaged in the risk assessment process. 

The final report is expected to be submitted to the Government for adoption. Once adopted, it will serve as the basis for preparing a National AML/CFT strategy and an accompanying Action Plan. The Action will continue to provide guidance and support to these efforts.

The ML/TF NRA process is crucial for the jurisdiction since it helps authorities and private sector participants better understand existing money laundering and terrorist financing threats and vulnerabilities in North Macedonia. This understanding will enable national stakeholders to allocate more effectively the supervisory, enforcement, and compliance resources. Ultimately, the results of the ML/TF NRA will allow competent authorities to develop targeted mitigating measures, thus ensuring effective safeguards for the economy, boosting investors’ confidence, and enhancing the national security.  

This activity was organised by the Action against economic crime in North Macedonia, as part of the European Union/Council of Europe joint Programme Horizontal Facility for the Western Balkans and Türkiye (Horizontal Facility III), co-funded by the European Union and the Council of Europe and implemented by the Council of Europe.