The competences of the National Committee shall be expanded to include the following: 1. Identifying, assessing, and understanding Crime risks at the national level, including risks arising from the development of new products or new business practices, such as the use of new or emerging technologies or services or products delivery methods. 2. Updating the National Risk Assessment and the National Anti-Crime Strategy at least once every three (3) years, or whenever necessary. 3. Disseminating information relating to the National Risk Assessment, in accordance with the mechanism it deems appropriate, to Concerned Authorities, Financial Institutions, DNFBPs, Virtual Asset Service Providers, and Non-Profit Organizations. 4. Coordinating with the Concerned Authorities in the application of the risk-based approach, the allocation of resources, and the implementation of Crime combating or mitigation measures. 5. Coordinating with the Registrar and the Supervisory Authority in identifying and assessing Crime risks relating to all legal persons, including foreign-established Companies and others that pose Crime risks and whose activities or investments are connected to the State, taking appropriate measures to manage and mitigate the identified risks, and determining the measures required to ensure that the Concerned Authorities have access to adequate, accurate, and Up-To-Date Beneficial Owner Information. 6. Identifying and assessing Crime risks relating to Legal Arrangements and taking appropriate measures to manage and mitigate the identified risks, including requiring the submission of Beneficial Owner information to be retained by the competent authorities regulating foreign Legal Arrangements or any other authority responsible for retaining such information, in the following cases: a. Legal Arrangements registered or licensed under the legislation of the State, or administered therein; b. Legal Arrangements administered in the State or whose Trustees reside therein; c. Foreign Legal Arrangements whose activities are connected to the State, including those having substantial and ongoing commercial activities or relationships with Financial Institutions or DNFBPs, significant real estate or other domestic investments, or tax registration in the State. 7. Coordinating with the Concerned authorities to ensure that the application of the provisions of the Decree by Law complies with personal data protection and privacy requirements under the personal data protection and privacy legislation in force in the State. 8. Developing and coordinating capacity-building and training programs for personnel working in the field of Anti-Money Laundering, Combating the Financing of Terrorism, and Proliferation Financing.
Interpretation and application must be checked against the official text and current version.