2023 Risk Evaluation Questionnaire (REQs) deadlines

The 2023 REQ questionnaire is now available on the Compliance and Supervision Platform for Assessing Risk (CASPAR) portal on the FIAU page for completion by subject persons.

The deadlines for submission of the 2023 REQs are as follows:
Thursday 13th April 2023	Thursday 20th April 2023	Thursday 27th April 2023
Virtual Financial Assets Agents Virtual Financial Assets Service Providers Real Estate Agents Notaries Gaming Operators	Trustees and Fiduciaries Company Service Providers Accountants and Auditors Tax Advisors Advocates	Credit institutions Financial Institutions Investments Service and Securities Markets Insurance and Pensions

Subject Persons can only submit the REQs through the CASPAR System.

Subject persons operating in categories falling on different deadlines should follow the last deadline for their relevant sectors. Submission of the REQ following the respective deadlines will be considered as a late submission and may result in subject persons being liable to an administrative penalty.

Subject Person Profile

Additionally to the REQ, subject persons have to populate the 'Subject Person Profile’ module on CASPAR. Guidance on populating the module can be viewed by accessing the FIAU website.

The subject person is expected to submit a copy of the latest Business Risk Assessment when updating the profile on CASPAR. Our Business Risk Assessment model is a bespoke model designed around specific risks of the subject person. It meets all the requirements of the PMLFTR and FIAU Implementing Procedures, taking into considerations both quantitative and qualitative factors.

Our team of experts can assist subject persons in compiling the Risk Evaluation Questionnaire on CASPAR.

Anti-money laundering compliance

Our AML Compliance unit assists organisations by offering tailored support and solutions to meet their regulatory requirements. Our team includes Certified Anti-Money Laundering Specialists (CAMS) with extensive experience in the AML/CFT area.

Business risk assessment (BRA)

The Business Risk Assessment (BRA) allows the subject person to ensure that the current business model is in line with its risk appetite. In order to be effective, it must be drawn up using reliable quantitative and qualitative data and be regularly revised.