Workshop for supervisors of the real estate sector, construction, accountants and auditors on risk-based approach in supervision was held on 17 March 2022 in Podgorica.

This activity was aimed at assisting authorities in finalising the questionnaire for reporting entities and risk matrix, which will calculate the inherent risk and vulnerability of the sector based on the responses of the reporting entities. The questionnaire and risk matrix are facilitating collection and processing of large number of data that will help the authorities to understand the risk profile of reporting entity (including: customer risk, products and services risks, delivery channels risk, geographical risk) and to get the basic insight into the level of compliance of reporting entities with anti-money laundering/counter-terrorist financing policies and procedures.

Once developed, this risk assessment will serve as the basis for creation of offsite and onsite plans of control of reporting entities.

The meeting was organised within the framework of the Action against economic crime in Montenegro, which is a part of the joint European Union/Council of Europe programme “Horizontal Facility for the Western Balkans and Turkey 2019 – 2022”.