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

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NEWS 14/04/2015



Events

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[14 April 2015] MONEYVAL  issues a revised public statement on Bosnia and Herzegovina

At the 47th Plenary, MONEYVAL considered the progress of Bosnia and Herzegovina under the Compliance Enhancing Procedures and decided that, while progress has been made since the last meeting on amendments to the criminalisation of financing of terrorism, overall progress on the Criminal Code and the implementation of by-laws to the preventive law remained insufficient. The 47th Plenary considered it was obliged to follow the decision of the previous plenary to invoke the next Step 4 of the Compliance Enhancing Procedures if overall progress was insufficient by April. Accordingly Step 4 was invoked and a revised public statement has been issued.

Links to press release and public statement


[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 expedited follow-up procedure and requested to report back to the Plenary in December 2015.


[9 March 2015] Secondment of five officials to MONEYVAL: call for candidates - deadline extended

The Directorate General I - Human Rights and Rule of Law is currently looking for five officials to be seconded for a minimum period of one year, commencing as soon as possible.

The seconded officials will provide expert assistance to the Directorate of Information Society and Action against Crime in the implementation of the MONEYVAL mutual evaluation programme, which supports States in fulfilling their commitments in accordance with international legal, financial and law enforcement standards on money laundering and terrorist financing and in compliance with Council of Europe conventions, regulations, standards and values.

For more information on the posts and the application procedure please click here. Deadline for applications:  20 April 2015.

[29 January 2015] Fourth Round on-site evaluation visit to the UK Crown Dependency of Jersey

A MONEYVAL team of evaluators visited the UK Crown Dependency of Jersey from 18 to 24 January 2015 under the 4th evaluation round. The evaluation team met representatives from various authorities involved in the prevention of money laundering and the financing of terrorism in Jersey.

During the visit, which was coordinated by the Jersey Financial Services Commission, the evaluation team met with the Chief Minister, the Minister for External Relations, the Home Affairs Minister, the Jersey Financial Crime Strategy Group,  as well as with representatives from the Jersey Financial Services Commission, Joint Financial Crimes Unit of the States of Jersey Police, the Customs and Immigration Service, the Law Officers department, the Bailiff and Deputy Bailiff, the Viscount. Meetings were also held with representatives from the financial and non financial sectors as well as their professional associations. The meetings were all held in St Hélier. At the conclusion of its mission on Saturday, 24 January, the MONEYVAL team shared and discussed the initial findings with representatives of the Jersey authorities. In accordance with MONEYVAL's Rules of Procedure, a draft report will now be prepared for review and adoption by a MONEYVAL Plenary in September 2015.

MONEYVAL's 4th round evaluations are more focused and primarily follow up the recommendations made in the 3rd evaluation round. Evaluation teams in the 4th round examine certain of the important Financial Action Task Force (FATF) Forty Recommendations 2003 and the Nine Special Recommendations on Terrorist Financing 2004, as well as Recommendations which were previously rated "non-compliant" or "partially compliant" in the previous evaluation report. It also includes an assessment of the effectiveness of their implementation, based on an analysis of information provided and verified through interviews with relevant national authorities, a selective representative panel of financial institutions, of designated non-financial businesses and professions and relevant professional associations.Evaluations are complemented by issues linked to the Directive 2005/60/EC of the European Parliament and of the Council of 26 October 2005 on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing in accordance with MONEYVAL’s terms of reference.



[12 December 2014]
MONEYVAL  issues a revised public statement on Bosnia and Herzegovina

The Council of Europe’s anti-money laundering body MONEYVAL considered progress by Bosnia and Herzegovina under Step 3 of its Compliance Enhancing Procedures at its 46th plenary meeting (8-12 December). MONEYVAL conducted its 4th assessment visit to Bosnia and Herzegovina from 18 to 29 November 2014. Exceptionally, the emerging findings of the assessment team were shared with the 46th plenary. The evaluation report will now be prepared, with a view to its adoption in September 2015.

The MONEYVAL plenary decided to maintain Bosnia and Herzegovina at Step 3 of its Compliance Enhancing Procedures. A revised Public Statement was adopted. It calls upon States and territories evaluated by MONEYVAL and other countries to advise their financial institutions to pay special attention by applying enhanced due diligence measures to transactions with persons and financial institutions from or in Bosnia and Herzegovina, in order to address the money laundering and financing of terrorism risks.

MONEYVAL urges Bosnia and Herzegovina to immediately and meaningfully address its remaining deficiencies in its anti-money laundering and counter terrorist financing legislation, in particular by adopting necessary amendments to its Criminal Code and rapidly issuing and bringing into effect the necessary by-laws under the revised preventative legislation (brought into force on 25 June 2014). Progress of Bosnia and Herzegovina under Step 3 of the Compliance Enhancing Procedures will be further reviewed at the 47th plenary in April 2015.

Statement