Compliance Unit to launch sectoral Risk Assessment findings

The Compliance Unit of the Anti-Money Laundering Authority will soon release the findings of its Anti-Money Laundering Sectoral Risk Assessment for attorneys-at-law and real estate agents.

Chief Compliance Officer Shari Squires said the information will be released on Thursday. The information will be made available after the launch on its website.

Describing the Sectoral Risk Assessment as “critical”, Squires explained that it looks at several areas, including vulnerabilities, threats, and inherent characteristics of the sectors.

She noted that an assessment was done on the two sectors in 2019 before the Compliance Unit was given the mandate to supervise the Designated Non-Financial Businesses and Professionals (DNFBPs), which include accountants, attorneys-at-law, dealers in precious metals and stones, and real estate agents.

(BGIS)