We are hosting a regional webinar on Money Laundering and Terrorist Financing Risks and Obligations of Designated Non-Financial Businesses and Professions (DNFBP).
The Financial Action Task Force (FATF) lists DNFBPs to include casinos, real estate agents, dealers in precious metals and precious stones, lawyers, notaries, other independent legal professionals and accountants, and trust and company service providers. Some countries also include virtual currency service
providers, vehicles dealers, insurance firms, tax advisors, financial auditors as DNFBPs.
The financial sector and other businesses and professions are exposed to the risks of money laundering and financing of terrorism where criminals can abuse both sectors to launder, move and transact their deals. However,
Countries are expected to have effective AML regime and criminal justice system to counter laundering of proceeds of crime and deprive criminals and their networks from benefiting from their illicit trade and to bring
perpetrators to justice.
This is the objective of our training: to help our officials from DNFBP regulatory and supervisory bodies in East, Central, Southern Africa and Yemen, to understand vulnerabilities and risks of ML/TF in DNFBPs and the necessary measures they can take to prevent safeguard the financial system such as risk assessment, compliance measures (internal control systems, customer due diligence, know your customer and reporting suspicious transactions among others. Ultimately, the goal is to equip all sectors to detect and disrupt illicit financial flows.
Leading the workshop this morning and throughout the week is our team leader Frédéric BAYARD together with our senior technical advisor Tu’emay Aregawi Desta.
This webinar is attended by representatives of DNFBPs supervisory and or regulatory bodies from the 34 countries covered under this Project.
The webinar continues until Friday!
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