Regulatory Alerts2025-01-01
Results of the National Risk Assessment for the Crimes of Money Laundering and Terrorist Financing
The State's regulatory authority issued this document to present the comprehensive findings of the National Risk Assessment for Money Laundering and Terrorist Financing. It details the assessed threat levels, vulnerability ranges, and corresponding risk profiles across both national and sectoral scales, utilizing a standardized zero-to-high measurement framework. The report further identifies key risk indicators, evaluates sector-specific vulnerabilities, and notes a recent surge in cyber fraud that requires updated regulatory attention.
Results of the National Risk Assessment for the Crimes of Money Laundering and Terrorist Financing
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The following summarizes the results of the National Risk Assessment for the crimes of Money Laundering and Terrorist Financing for the State:
Chapter 1: Summary of the Results of the Money Laundering Risk Assessment on the National Scale.
Money Laundering Threats in the State (from zero to high), noting that these threats are considered national, and the following table assesses the national threats:
| Threats of Money Laundering | Sectoral Threats | National Threats |
|---|---|---|
| Forgery, Embezzlement, Tax Evasion, Bribery, Abuse of Power, Credit Abuse, Extravagant Spending | From zero to high | From zero to high |
| Crimes of Theft: Fraud, Smuggling, Theft, and Smuggling | From zero to high | From zero to high |
| Crimes related to perpetrators of serious crimes | From zero to high | From zero to high |
| Fraud: Essential element in deception | From zero to high | From zero to high |
| Credit Abuse: Credit abuse in the banking sector exceeds its limits. | From zero to high | From zero to high |
It should be noted that the weakness range of the National Money Laundering Threats (from zero to high) depends on two main factors: First, based on the weakness range of the National Threats on the Sectoral Threats (from zero to high), a reduction in the weakness range of Money Laundering Threats on the 11 sectors is achieved as clarified below. Second, the ability to address Money Laundering Threats on the National Threats (from zero to high) is based on the State's ability to address Money Laundering Threats.
An important note: Recently, in 2024, and consequently, this has not been reflected in the National Risk Assessment which covered the period 2017-2023. The number of cyber frauds has increased, especially since the beginning of the year.
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Chapter 2: Summary of the Results of the Money Laundering Risk Assessment on the Sectoral Scale.
The assessment of Money Laundering threats for each sector is based on the threat levels, weakness ranges, and national vulnerabilities:
Chapter 3: Summary of the Results of the Money Laundering Risk Assessment on the Incoming Sectoral Scale.
The assessment of Money Laundering threats in the incoming sector (from zero to high) is based on the results of assessing Money Laundering threats in this sector (from zero to high), and the weakness range of the National Money Laundering Threats in this sector (Resident).
The assessment of the overall and national weakness range in the vulnerabilities of the national sector is according to the following table:
| Sector | Threat Level | National Weakness Range | Sectoral Weakness Range |
|---|---|---|---|
| Incoming Transactions | From zero to high | From zero to high | From zero to high |
| Deposits | From zero to high | From zero to high | From zero to high |
| Transactions | From zero to high | From zero to high | From zero to high |
| Large Transactions | From zero to high | From zero to high | From zero to high |
| Trust Boxes | From zero to high | From zero to high | From zero to high |
| National Sector | From zero to high | From zero to high | From zero to high |
| Non-National | From zero to high | From zero to high | From zero to high |
| Lending | From zero to high | From zero to high | From zero to high |
| National Payment | From zero to high | From zero to high | From zero to high |
| Securities (National Securities) | From zero to high | From zero to high | From zero to high |
| Trust | From zero to high | From zero to high | From zero to high |
| Agency | From zero to high | From zero to high | From zero to high |
| Agency | From zero to high | From zero to high | From zero to high |
| Trade in Precious Metals and Stones | From zero to high | From zero to high | From zero to high |
| Agency | From zero to high | From zero to high | From zero to high |
| Real Estate Agents | From zero to high | From zero to high | From zero to high |
| Real Estate Ownership and Brokerage | From zero to high | From zero to high | From zero to high |
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Commercial Practices or Financial Transactions | From zero to high | From zero to high | From zero to high Deposits of Legal Persons | From zero to high | From zero to high | From zero to high Movements of Legal Persons | From zero to high | From zero to high | From zero to high Tangible Assets | From zero to high | From zero to high | From zero to high Individual Receipts | From zero to high | From zero to high | From zero to high Public and Private Entity Receipts | From zero to high | From zero to high | From zero to high National Practices | From zero to high | From zero to high | From zero to high Real Estate Sale Receipts | From zero to high | From zero to high | From zero to high
Chapter 4: Summary of the Results of the Terrorist Financing Risk Assessment on the National Scale
The assessment of the level of Terrorist Financing risks on the national scale (from zero to high) assesses Terrorist Financing Threats in the State (from zero to high).
The following are the national Terrorist Financing threats:
| Threats | Sectoral Threats |
|---|---|
| Imports | From zero to high |
| Exports | From zero to high |
| Terrorist Operations | From zero to high |
The assessment of the national weakness range to Terrorist Financing on the incoming sector (from zero to high) is a result of the ability to address Terrorist Financing on the national threats being assessed (from zero to high). Accordingly, the national weakness range on the sectoral threats is assessed (from zero to high).
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Chapter 5: Summary of the Results of the Terrorist Financing Risk Assessment on the Sectoral Scale
The results of assessing Terrorist Financing risks on the sectoral sectors range between "zero" to "high", according to the following:
| Terrorist Financing Risks on the Sectoral Scale | Threat Level | National Weakness Range | Sectoral Weakness Range |
|---|---|---|---|
| National | From zero to high | From zero to high | From zero to high |
| Local | From zero to high | From zero to high | From zero to high |
| Local Lending | From zero to high | From zero to high | From zero to high |
| National Payment | From zero to high | From zero to high | From zero to high |
| Securities (National Securities) | From zero to high | From zero to high | From zero to high |
| Trust | From zero to high | From zero to high | From zero to high |
| Agency | From zero to high | From zero to high | From zero to high |
| Trade in Precious Metals and Stones | From zero to high | From zero to high | From zero to high |
| Agency | From zero to high | From zero to high | From zero to high |
| Real Estate Sector | From zero to high | From zero to high | From zero to high |
| Agency | From zero to high | From zero to high | From zero to high |
The following table clarifies the criteria for assessing Terrorist Financing threats on the national sector:
| Purpose of Assessment | Threats Related to Terrorist Financing Patterns from Zero to High |
|---|---|
| Found that there are cases in the State (related to misuse of the sector) rarely / | |
| Found that there are cases on the Global scale (related to misuse of the sector) rarely / | |
| Internal Factors (from zero to high) | |
| External Factors (especially the sector on the scale from zero to high) | |
| External Factors (especially the sector on the scale from zero to high) | |
| Express Terrorist Financing Threats on the National Scale from Zero to High | |
| Terrorist Financing Threats on the National Scale from Zero to High | |
| Terrorist Financing Threats on the National Scale from Zero to High | |
| Terrorist Financing Threats on the National Scale from Zero to High | |
| Terrorist Financing Threats on the National Scale from Zero to High |
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The assessment of the national weakness range to Terrorist Financing in the incoming sector (from zero to high) is based on the following national indicators:
| Purpose of the Incoming Sector | Indicator |
|---|---|
| General Sector Rate / Turnover | High |
| Incoming Operations on the Global Scale | High / |
| Incoming Operations to the External Location | Larger on the scale from zero to high |
| Incoming Operations on the scale from zero to high / | |
| Incoming Operations from the External Location | Larger on the scale from zero to high |
| File of Base Operations Complexity | From zero to high |
| Client Agent Scale | High |
| Use of Clients, Transactions, and Expenses | Non-existent |
| Suitability / Effectiveness for Terrorist Financing | From zero to high |