CySEC would like to provide more details on the prevention and detection of Money Laundering and Terrorist Financing ("ML/TF"), vulnerabilities were identified in the Securities and Administrative Service Providers ("ASPs") sectors, concerning the effectiveness of the regulated entities' compliance function, the anti-money laundering and countering the financing of terrorist ("AML/CTF") knowledge of staff and the effectiveness of suspicious activity monitoring and reporting.To that effect, an Action Plan was formed on the basis of the NRA results to remedy the vulnerabilities identified and recorded in the NRA Report.