Key information includes:
- The supervisory work of COLB during 2023 including sanctions, criminal investigations and seizures,
- An updated assessment of ML/TF risks across various sectors, including banking, insurance, and digital assets;
- Enhanced measures to strengthen the regulatory framework and improve inter-agency cooperation; and
- Recommendations for financial institutions to bolster their AML/CFT compliance programs and adapt to emerging threats.
Firms should review 2023 report on the national strategy for combating AML/CFT to gain insights into the objectives and expectations of the French Authorities, which may have operational implications.
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