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Committee of Experts on the Evaluation of
Anti-Money Laundering Measures and the Financing of Terrorism - MONEYVAL
| News (16/05/2012) | |||
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_________________________________________________________________________________________ The mutual evaluation report on the 4th assessment visit in Andorra is now available for consultation (in French -English translation will be available shortly). Links to: The report was adopted at MONEYVAL’s 38th Plenary meeting (Strasbourg, 5-9 March 2012). According to MONEYVAL’s procedures, Andorra will have to submit a follow-up report on implementation of the report’s recommendations by March 2013. The MONEYVAL team responsible for the evaluation of Lithuania in the fourth round went to Vilnius between 23 and 28 April. The team met representatives of the various competent authorities as well as of a variety of financial institutions and other businesses and professions subjected to anti-money laundering and anti-terrorist financing requirements. The report is scheduled for discussion at the 40th Plenary meeting (3-7 December 2012).
The MONEYVAL team responsible for the evaluation of the Holy See (including Vatican City State) undertook a second onsite visit between 14 and 16 March 2012. This visit was part of the ongoing process of discussion and clarification of the information that has been provided. The team again met representatives of the competent authorities. The report remains on schedule for discussion at the 39th Plenary meeting (2-6 July 2012). This typology report is the result of a cooperative effort of MONEYVAL, the Council of Europe's Global Project on Cybercrime and the joint project of the European Union and of the Council of Europe against money laundering and the financing of terrorism in the Russian Federation. The report analyses the links between cybercrime and money laundering, the most frequently used methods and instruments for laundering criminal proceeds from cybercrime and through the Internet, as well as the risks and vulnerabilities posed by this type of money laundering. It sets outs a number of findings as regards cybercrime and money laundering and of available countermeasures and good practices, which could inspire policy makers and regulators or become elements of more systematic future approaches and strategies that are aimed at the prevention of money laundering and the financing of terrorism, and at the search, seizure and confiscation of proceeds of crime on the Internet. MONEYVAL, at its 38th plenary meeting, achieved several significant results: - discussed and adopted the mutual evaluation reports on the 4th assessment visits of Malta and of the Principality of Andorra ; - examined and adopted the 3rd round second progress report submitted by Montenegro and requested that a further progress report be presented in December 2012; - heard a routine interim regular follow-up report submitted by Slovenia under the 4th round; - examined the reports on action being taken by Albania and Bosnia and Herzegovina to address the issues of concerns raised by MONEYVAL under the Compliance Enhancing Procedures; - examined measures taken by several countries on identified important deficiencies as a result of the process regarding the state of compliance on all NC and PC ratings in the third round; - adopted the report under the typologies project on Criminal money flows on the internet: methods, trends and multi-stakeholder counteraction and heard an update on other ongoing typologies projects and reports; - endorsed the revised 2012 FATF Recommendations. The next plenary meeting is scheduled in July 2012. The executive summaries of the mutual evaluation reports on the 4th assessment visits and the progress report will be available shortly. Agenda highlights: consideration of the evaluation reports on the 4th assessment visits to Malta and to the Principality of Andorra, of the second 3rd round progress report of Montenegro, of typologies reports (Criminal money flows on the internet - methods, trends and multi-stakeholder counteraction; The Use of Internet gambling for money laundering and terrorist financing purposes). MONEYVAL will also discuss aspects related to its follow up processes and procedures and related reports under the 4th round and will formally endorse the revised 2012 FATF Recommendations.
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