• FIAU Notice - 2022 Risk Evaluation Questionnaire

    The Financial Intelligence Analysis Unit (FIAU) has published a notice on its website advising subject persons of the 2022 Risk Evaluation Questionnaire (REQ) deadlines.

FIAU Notice - 2022 Risk Evaluation Questionnaire

02 February 2022

The Financial Intelligence Analysis Unit (FIAU) has published a notice advising subject persons of the 2022 Risk Evaluation Questionnaire (REQ) deadlines.

 

The 2022 REQ specimens reflect a change concerning the submissions to be made by Company Service Providers (CSPs). In line with the CSP reform that took place during 2021, REQs for CSPs have been segregated according to the respective class held.

 

Similar to previous years, the 2022 REQ will be available on the Compliance and Supervision Platform for Assessing Risk (CASPAR) portal for completion by subject persons as from 1st March 2022. The FIAU has made available REQ specimens per sector, allowing subject persons to commence with the collation of the necessary information to meet the set deadlines.

 

In contrast to previous years, the FIAU will not be publishing sector-specific guidance ahead of the REQ submission deadline. This year, for the purpose of assisting subject persons in completing the 2022 REQ, guidance will be made available for each question within the questionnaire itself.

 

The REQ submission deadlines are the following:

Wednesday 13th April 2022

Wednesday 20th April 2022

Wednesday 28th April 2022

Virtual Financial Assets Agents

Trustees and Fiduciaries

Credit institutions

Virtual Financial Assets Service Providers

Company Service Providers

Financial Institutions

Real Estate Agents

Accountants and Auditors

Investments Service and Securities Markets

Notaries

Tax Advisors

Insurance and Pensions

 

Subject persons are also reminded of their obligation to review their business risk assessment and ensure this reflects an accurate and up-to-date risk. A review and/or update made to a business risk assessment is to be approved by the Board of Directors or equivalent management body.

 

BDO is here to help!

BDO’s Risk Advisory Services Team is equipped with professionals who can assist in:

  • setting up or reviewing an organisation’s business risk assessments (BRAs);
  • assisting and guiding organisations in preparing the required REQ information; and in
  • reviewing and/or updating an organisation’s AML CFT policies and procedures.

 

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