TEHRAN- The vulnerability assessment report of the insurance industry and the identification of 153 challenges and 203 proposed strategies were discussed in the 11th meeting of the National Risk Assessment Working Group (NRAWG) on 22 January 2023.

The approval of the vulnerability assessment report of the insurance industry is in line with the country's first National Risk Assessment (NRA) document, which will be a fundamental and effective step in reducing and controlling the risks of money laundering and terrorist financing, the deputy economy minister, Hadi Khani, who is also the chief of IRIFIU, said.

He highlighted the importance and the crucial position of the National Risk Assessment Working Group in the fight against corruption and money laundering.

The working group was formed to assess the risk of money laundering and terrorism financing at the national level and is responsible for coordinating related activities and mechanisms. It is also in charge of assessing the risk in the pivotal scopes.

Khani pointed out that the fight against corruption should be one of the priorities of each organization.

He added that the proper implementation of the anti-money laundering laws and regulations in the country will be done with the maximum cooperation and collaboration of all related bodies.

Khani also asked the members of the National Risk Assessment Working Group (NRAWG) to monitor and identify new strategies and methods of money laundering both inside and outside the country.

During the meeting, the Central Bank of Iran (CBI) and the Ministry of Industry, Mining and Trade presented reports on preparing the vulnerability assessment of other financial institutions and non-financial businesses.