The objective of this reform is to strengthen the anti-money laundering framework by ensuring its correct implementation, adoption of an action plan to mitigate the money laundering and terrorist financing risks identified through the national risk assessment, as well as updating the national risk assessment. This shall be achieved by the following measures: • adoption of supervisory strategies and guidance on the approach to politically exposed persons, as well as revision of supervisory procedures by the supervisory authorities under the Law on Measures against Money Laundering in order to mitigate money laundering risks and increase the implementation of the anti-money laundering framework by obliged entities under their supervision; • adoption of an action plan by the Council of Ministers to mitigate the money laundering and terrorist financing risks identified through the national risk assessment; • adoption of an update to the national risk assessment of money laundering and terrorist financing report, including sectorial risk assessments of the non-profit sector, of virtual assets and of citizenship investment schemes. The implementation of the reform shall be completed by 31 March 2023.
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