Effective Use of IT Tools in AML/CFT Risk Assessments Highlighted at Council of Europe Workshop


Financial Transparency Solutions (FTS) contributed to the Council of Europe’s TSI Portugal workshop on “Risk-based AML/CFT Supervision: Effective Assessment and Mitigation of Emerging Money Laundering/Terrorist Financing Risks” with a compelling presentation on the effective application of IT tools. This presentation addressed the crucial question: How can software contribute to a supervisor’s compliance and effectiveness?

A brief recap of the key points discussed:

SupTech can enhance the precision and understanding of risk in AML/CFT assessments.
It allows for the easy evolution of risk models to adapt to changes in the risk landscape.
Automation efficiencies provided by SupTech save time, funding, and human resources.
It empowers AML/CFT supervisory departments to independently conduct risk assessments.

FTS is grateful to the Council of Europe for the opportunity to raise awareness among AML/CFT supervisors about the benefits of emerging off-the-shelf AML/CFT tools in sector risk assessments. For more information, visit the Council of Europe’s Newsroom: Council of Europe Newsroom.