France's National Strategy for combating AML/CFT for 2023

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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