Counter Money Laundering and Financing of Terrorism (MONEYVAL)


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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[15 May 2012] MONEYVAL report on the 4th round assessment visit in Andorra

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:
 Press release
 Executive Summary (in French only)
Report (in French only)

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.
[7 May 2012] Fourth Evaluation Round on-site visit to Lithuania

 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).

[24 April 2012] MONEYVAL report on the 4th round assessment visit in Malta

The mutual evaluation report on the 4th assessment visit in Malta is now available for consultation.
Links to:
 Press release
 Executive Summary
Report
Annexes

The report was adopted at MONEYVAL’s 38th Plenary meeting (Strasbourg, 5-9 March 2012). 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 Malta 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 Malta

 MONEYVAL will continue to monitor implementation of the recommendations by Malta through its regular follow-up procedures, which require the country to submit a follow up report by March 2013.

[19 March 2012] Second onsite evaluation visit to the Holy See (including Vatican City State)

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).
[15 March 2012] Criminal money flows on the Internet: methods, trends and multi-stakeholder counteraction

 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.
  Report
[14 March 2012] Outcome of the 38th Plenary meeting (5-9 March  2012)

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.
[2 March 2012] 38th Plenary meeting (5-9 March  2012)

 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.

FATF Working Groups and Plenary Meeting (Paris, 15-17 February 2012)

 MONEYVAL participated in the working groups meetings and the second Plenary meeting of FATF-XXIII held under the Italian Presidency. The Chairman's summary provides an overview of the major outcomes of the Plenary.

At this meeting, the FATF has updated its public statement which identifies jurisdictions with strategic anti-money laundering and countering the financing of terrorism (AML/CFT) deficiencies.
FATF Public Statement

Also, as part of its on-going review of compliance with the AML/CFT standards, the FATF has identified  jurisdictions which have strategic AML/CFT deficiencies for which they have developed an action plan with the FATF.
  Improving AML/CFT Compliance: On-going Process

[17 February 2012] Revised FATF Recommendations published

The FATF revised Recommendations were agreed by FATF members on 15 February and have now  been published. The revision of the FATF Recommendations has involved the FATF’s members and all the FATF Style Regional Bodies, as well as extensive consultation with the private sector and civil society. The revised standards now  fully integrate counter-terrorist financing measures with anti-money laundering controls, introduce new measures to counter the financing of the proliferation of weapons of mass destruction, and they will better address the laundering of the proceeds of corruption and tax crimes. They also strengthen the requirements for higher risk situations and allow countries to take a more targeted risk-based  approach.

For more information on the FATF Recommendations, please visit the FATF's publication page on www.fatf-gafi.org/recommendations

Links to:
  FATF Recommendations, Interpretative Notes and Glossary

[19 December 2011] FATF President speech at MONEYVAL's 37th Plenary meeting 

FATF President Giancarlo del Bufalo highlighted the important role that MONEYVAL plays in the global AML/CFT network as one of the senior, and consistently well-performing FATF associated member during his speech before the MONEYVAL delegations at the 37th Plenary meeting.

He congratulated MONEYVAL for its work and positively noted in particular the strong action taken when implementation shortcomings are identified in its members. 


Read the speech

[1 December 2011] Secondment of an official to MONEYVAL: call for candidates - deadline 27 January 2012

 The Directorate General I - Human Rights and Rule of Law is currently looking for an official to be seconded for a minimum period of one year, commencing as soon as possible. The seconded official will provide expert assistance 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. For more information on the post and the application procedure please click here.

[8 December 2011] MONEYVAL report on the 4th round assessment visit in Cyprus

The mutual evaluation report on the 4th assessment visit in Cyprus is now available for consultation.
Links to:
 Press release
 Executive Summary
Report
Annexes

The report was adopted at MONEYVAL’s 36th Plenary meeting (Strasbourg, 26-30 September 2011). 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 Cyprus is not, therefore, a full assessment against the FATF 40  Recommendations  and 9 Special Recommendations but is an update on major issues in the Cypriot AML/CFT system.

MONEYVAL will continue to monitor implementation of the recommendations through its biennial follow-up procedure, which require the country to submit within two years a succinct update on the new measures that have been adopted and implemented to deal with the identified deficiencies in relation to any of the 40+9 Recommendations  that are rated NC or PC.

Upcoming events

4th round on-site evaluation of Poland 
(28 May - 2 June 2012)

39th Plenary meeting
(2 - 6 July  2012)

2012 Calendar