Physical Address
Indirizzo: Via Mario Greco 60, Buttigliera Alta, 10090, Torino, Italy
Towards upgrading the national control system
Money laundering and terrorist financing
The Minister of Finance, Laaziz Faid, highlighted the need for the National Coordination Committee responsible for managing the issue of upgrading the national AML/FP system of the Financial Action Group to address the issue of upgrading the national anti-money laundering system both in the aspects of compliance of texts with international standards, but also by ensuring the effectiveness of the actions carried out in this framework. Noting that this problem is added to the original missions of the National Committee which are reviewing and adopting the national risk assessment report.
Chairing the ordinary meeting of the national commission for assessing the risks of money laundering, financing terrorism and financing the proliferation of weapons of mass destruction, held at the headquarters of the Ministry of Finance, in the presence of the Secretary General of the Ministry of National Defense, in his capacity as vice-president of the commission, and members of this body, Laaziz Faid insisted on the exceptionally important nature of this meeting. Dedicated, indicated a press release from the ministry, to the examination of several points on the agenda and mainly relating to the presentation of the Action Plan of the National Coordination Committee responsible for managing the file of upgrading the national AML/FP system of the Financial Action Task Force, and the progress of work related to the preparation of the national report on AML/FP risks.
Inviting all participants to intensify and coordinate efforts to defend the country’s position vis-à-vis specialized international bodies, regarding the valorization of actions undertaken to improve the compliance and efficiency of the national system, the Minister of Finance, continued the same source, urged all stakeholders involved to mobilize the resources of our collective intelligence to achieve the desired objective.
For his part, the Project Manager for the conduct of the ENR presented, in detail, the progress of the work related to the development of the national report on risks, and outlined the actions that were taken. carried out as well as the actions that remain to be carried out. The collection and analysis of data, the identification of explicit actors, the assessment of vulnerabilities and threats, as well as the review of existing policies and practices to combat money laundering and the financing of terrorism, have was also explained during this presentation.
While the representative of the financial intelligence processing unit presented the unit’s action plan concerning the upgraded measures reinforced with the Financial Action Group, and the notable progress that has been made.
“In order to take care of the aspect of efficiency which is based on coordination and availability, a study day will be organized on June 5 for the benefit of the intersectoral working group responsible for conducting the national risk assessment », added the same source.
At the end of this meeting, marked by the presentation of the Action Plan of the National Coordination Committee and the presentation of presentations concerning the progress of the work linked to the national risk assessment process, as well as the proposals to accelerate the preparation of the national risk assessment report and align the national system with international standards as defined by the Financial Action Task Force, noted the same source, recommendations were made relating to measures to be taken in order to strengthen and enrich the legislative framework, in particular the draft laws relating to insurance and associations. And the imperative to coordinate between the different institutions and bodies concerned which aim to promote a better understanding of the risks of money laundering and terrorist financing, in accordance with best international practices, underlined.
Rabah Mokhtari