Reorganization of the AML/CFT supervision : Customs is at the helm

The Directorate General of Customs and Indirect Taxation (DGCIT) published in April information on the reorganization of the AML/CFT supervision activity (Fight against money laundering and terrorist financing). This reorganization, carried out by the National Directorate of Customs Intelligence and Investigation (DNRED), aims to strengthen the supervision of professionals in the non-financial sector, following the evaluation of France by the Financial Action Task Force (FATF) in 2022.

As a reminder, the objective of the fight against money laundering is to prevent the infiltration of criminal funds into the economic and financial system.

It is organized around a preventive component which involves certain professions such as financial institutions, the legal and accounting professions, and traders in valuable goods (art and antiques dealers, voluntary auction houses, and dealers in precious stones and metals).

These professions must comply with obligations regarding the traceability of transactions, vigilance, identification, and reporting of suspicious transactions.

The DGCIT has created a specialized AML/CFT supervision unit responsible for analyzing the risks specific to these sectors, disseminating an understanding of these risks to reporting professionals, assisting them in implementing their obligations by defining good practices adapted to their sector of activity, and finally monitoring compliance with their obligations.

This reorganization should provide better support for reporting professionals in implementing their obligations. The good practices adapted to each sector of activity will thus enable the professionals concerned to better understand the risks linked to their sector and finally to better comply with their obligations.

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