Project IARM is structured in 5 work packages (WPs).
Management and coordination of the project
General management of Project IARM and organisation of the kick-off meeting, the interim workshops and the final public conference (November 2016).
Identification of money laundering and terrorist financing risk factors
Identification of those factors that may influence the risk of money laundering and terrorist financing in a country. These include, on the basis of the FATF classification:
- Threats (e.g. magnitude of illegal markets, level of investments by organised crime, level of tax evasion, etc);
- Vulnerabilities (e.g. level of use of cash, loopholes in the regulations, weaknesses of the financial system, etc);
- Consequences (e.g. the harm produced by money laundering on consumers or on market competition).
Designing the risk assessment methodology
Development of the risk assessment methodology, including operationalization of the risk factors, their combination, and specification of the outputs of the model.
Implementation of the risk assessment methodology in Italy, Netherlands and the United Kingdom
Test and implementation of the risk assessment methodology in the three countries covered (Italy, Netherlands and the United Kingdom), and in particular: collection of the relevant information in each country, execution of the model and discussion of its results.
Dissemination of IARM results
Presentation and dissemination of the results of Project IARM. This will include a final public conference in Brussels.
Project IARM will produce a number of deliverables, including a final report and an array of risk maps and matrices. Once developed, deliverables will be made available in the section Links and materials.