Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism (MONEYVAL)

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Fraud warning

NEWS 1/07/2015

 

[1 July 2015] FATF Working Groups and Plenary Meetings (Brisbane, 21-26 June 2015) 

MONEYVAL participated in the Working Groups and the third FATF Plenary meeting held under the Australian Presidency.    

At this meeting, the FATF:    
issued a statement and set out a future work plan on "de-risking" ;
produced  two public documents within the International Cooperation Review Group (ICRG) :
 -  Jurisdictions with strategic anti-money laundering and combating the financing of terrorism (AML/CFT) deficiencies for which a call for action applies
;
 -  Jurisdictions with strategic AML/CFT deficiencies for which they have developed an action plan with the FATF.
Bosnia and Herzegovina is identified in the document “Improving Global AML/CFT Compliance: on-going process”. Bosnia and Herzegovina has made a high level political commitment to address the deficiencies identified in the FATF targeted action plan and will also continue to work with MONEYVAL on these issues. 

The FATF also adopted and published:
 -   Revised best practices on combating the abuse of non-profit organisations (Recommendation 8)
 -   Guidance for a risk-based approach to virtual currencies
 -   Typologies report on the money laundering / terrorist financing risks and vulnerabilities associated with gold


The FATF discussed the mutual evaluation report on compliance with the FATF Recommendations of Malaysia.
The FATF indicated that continuing its work on terrorist financing remains a priority.


[23 June 2015]
MONEYVAL report on the 4th round assessment visit in Montenegro


The mutual evaluation report on the 4th assessment visit in Montenegro is now available.

Press release
Executive Summary
Report
Annexes

The report was adopted at MONEYVAL’s 47th Plenary Meeting (Strasbourg, 14 – 17 April 2015). The MONEYVAL 4th cycle of assessments is a follow-up round, in which important FATF Recommendations have been re-assessed, as well as all those for which the state concerned received "Non-Compliant" (NC) or "Partially Compliant" (PC) ratings in its 3rd round report.

This report on Montenegro is not, therefore, a full assessment against the FATF 40 Recommendations and 9 Special Recommendations but is an update on major issues in the AML/CFT system in Montenegro.

According to MONEYVAL’s procedures and the decision of the 47th Plenary, Montenegro was placed into enhanced follow-up, and step 1 of the Compliance Enhancing Procedures was applied. Montenegro was requested to report back to the Plenary in April 2016.


[18 June 2015]
Presentation of MONEYVAL’s Activity Report for 2014

On 17 June 2015, the Chairman of MONEYVAL, Anton Bartolo, presented MONEYVAL’s Activity Report for 2014 to the Committee of Ministers of the Council of Europe at its 1231st meeting.The Committee of Ministers took note of the report and positively received the Chairman’s presentation. The full report will be published in due course.

The Chairman’s presentation may be accessed at the following link:  
Presentation


[17 June 2015]
Fifth Round on-site evaluation visit to Armenia

A MONEYVAL team of evaluators conducted an on-site visit to Armenia from 24 May to 6 June 2015, which was the first under MONEYVAL’s 5th evaluation round.

During the visit, which was coordinated by the Financial Monitoring Centre (FIU) of the Central Bank of Armenia, the evaluation team met with representatives from the Interagency Committee on Combatting Counterfeit Money, Fraud with Plastic Cards and Other Payment Instruments, ML and TF, the judiciary, the General Prosecutor’s Office, the National Security Service, the Investigative Committee, the Financial Monitoring Centre, the Customs Authority, the Central Bank of Armenia, the Ministry of Justice, the Ministry of Finance, Ministry of Foreign Affairs, the Ministry of Defence, the Real Estate Cadastre and the Company Registry. Meetings were also held with representatives from the financial and non-financial sectors and non-profit organisations. The meetings were all held in Yerevan. At the conclusion of its mission, the MONEYVAL team shared and discussed the initial findings with representatives of the Financial Monitoring Centre. In accordance with MONEYVAL's Rules of Procedure, a draft report will now be prepared for review and adoption by a MONEYVAL Plenary in December 2015.

MONEYVAL’s 5th evaluation round is based on the Financial Action Task Force (FATF) 2012 Recommendations and 2013 Methodology for Assessing Technical Compliance with FATF Recommendations and the Effectiveness of AML/CFT Systems. This round of evaluations builds on previous MONEYVAL assessments by strengthening the examination of how effectively the country is preventing and combating money laundering and the financing of terrorism and proliferation.


[21 April 2014]
Outcome of MONEYVAL's 47th Plenary meeting

MONEYVAL held its 47th plenary meeting in Strasbourg from 14 to 17 April 2015. At this meeting, the Plenary, inter alia:

-  adopted the 4th round evaluation report on Montenegro;
-  examined the situation in Bosnia and Herzegovina under the Compliance Enhancing Procedures and decided to apply Step 4 of the procedure and to issue a revised public statement;
- adopted the report of Lithuania under step 1 of the Compliance Enhancing Procedures and given the progress achieved in the key areas of concern, decided to lift the CEPs procedures at this stage;
-  adopted the report on San Marino’s application for removal from regular follow up and decided that San Marino should report back under biennial procedures in April 2017;
-  took note of the information provided under 4th round follow up procedures by Andorra, Czech Republic, Georgia, Malta, Poland, Slovenia and “the former Yugoslav Republic of Macedonia” and decided on the next steps for reporting by these countries under the procedures;
-  adopted a typologies report on Laundering the proceeds of organised crime;
- discussed the measures undertaken at a domestic level by MONEYVAL states and territories in respect of the implementation of the UN sanctioning regime and UN requirements related to ransom payments and decided to pursue work on these issues, in particular as regards legal capacities and measures aimed at preventing terrorists from benefiting directly from ransom payments;
-  revised its rules of procedure for the 5th round.

The reports which have been adopted and are public, in accordance with MONEYVAL’s publication policy, will be made available shortly under each jurisdiction’ profile.



Events

   Calendar 2015

 

[31 March 2015] MONEYVAL report on the 4th round assessment visit in Azerbaijan

The mutual evaluation report on the 4th assessment visit in Azerbaijan is now available.

  Press release
  Executive Summary
  Report

  Addendum

The report was adopted at MONEYVAL’s 46th Plenary Meeting (Strasbourg, 8 – 12 December 2014).

The MONEYVAL 4th cycle of assessments is a follow-up round, in which important FATF Recommendations have been re-assessed, as well as all those for which the state concerned received "Non-Compliant" (NC) or "Partially Compliant" (PC) ratings in its 3rd round report.

This report on Azerbaijan is not, therefore, a full assessment against the FATF 40 Recommendations and 9 Special Recommendations but is an update on major issues in the AML/CFT system in Azerbaijan.

According to MONEYVAL’s procedures and the decision of the 46th Plenary, Azerbaijan was placed under the regular follow-up procedure and requested to report back to the Plenary in December 2016.

Azerbaijan also undertook to submit an expedited report on action taken to address certain significant shortcomings concerning Recommendations 1, 5 and Special Recommendation III in December, 2015.