The CBK Executive Board approved the Manual on Risk-Based Supervision for the Prevention of Money Laundering and Combating the Financing of Terrorism

25/03/2024

The Executive Board of the Central Bank of the Republic of Kosovo, at the meeting held on 22 March 2024, approved the Manual on Risk-Based Supervision for the Prevention of Money Laundering and Combating the Financing of Terrorism (PML/CFT).

The purpose of this Manual is to raise supervisory capacities towards a risk-based approach which enables the identification and assessment of risks related to money laundering and terrorist financing as well as the adaptation of the supervisory strategy in accordance with the presented risk.

By designing this supervisory framework, the risk-based approach is integrated into all elements of the concept of the supervision program of financial institutions for compliance with the prevention of money laundering and combating the financing of terrorism, while enabling us to demonstrate that the supervision of compliance with PML/CFT is conducted based on the best practices as well as in compliance with the international standards of the FATF (Financial Action Task Force).

This Manual has been prepared with technical assistance from the joint project of the European Union and the Council of Europe against economic crime (PECK III). Therefore, on this occasion, the CBK thanks the Council of Europe and the European Union for their continuous support in the field of preventing money laundering and terrorist financing.

The CBK remains committed to advancing the legal and regulatory framework by implementing the highest standards, with the support of strategic partners, in accordance with its objectives and the Strategic Plan 2024-2028.