A training course titled "Activities of the authorized person and the department for prevention of money laundering and financing of terrorism" was held at the Institute for Applied Research for Business on October 7 th 2023.
The training was hybrid (with physical and online presence). During the training, there was a discussion about the procedure for appointing authorized person and/or department for preventing money laundering and terrorism financing, the required pre- conditions for the respective appointment, as well as for the types of activities of the authorized person and the department for preventing money laundering and terrorist financing.
Furthermore, the risk factors, risk elements, client analysis, as well as measures, actions and appropriate sanctions in terms of preventing money laundering and terrorist financing were analyzed by the lecturer with active involvement of the participants. A special attention was paid to the role of lawyers and notaries in the process of preventing money laundering and terrorist financing.
The training was attended by lawyers, accountants and employees of banks and financial companies. The lecturer of the training, Dr. Goce Trajkovski, is a member of the Committee of Experts for the Prevention of Money Laundering and Terrorist Financing in the Council of Europe (Moneyval) and has many years of experience as a lecturer in the field of preventing money laundering and terrorist financing.
The participants gained a Certificate for attendance.
Why is AML/CFT training mandatory in North Macedonia?
The Law on the Prevention of Money Laundering and Financing of Terrorism (Article 5, Article 12(1)(12) and Article 68(14)) defines the entities that must provide their employees with at least two AML/CFT trainings per year: financial institutions and their subsidiaries and branches, accountants, lawyers, notaries and other non-banking entities, and organisers of games of chance.
IARB regularly organises these trainings, online and as tailor-made trainings for individual entities. Participants receive a certificate of participation and the training materials. See our AML/CFT trainings and frequently asked questions.