[27 January 2010] Mutual evaluation report on Bosnia and Herzegovina public

The 3rd round evaluation report on Bosnia and Herzegovina, as adopted at MONEYVAL’s 31st Plenary meeting (7-11 December 2009), is now available for consultation. Links to:
Executive Summary
Mutual evaluation report
Annexes

[27 January 2010] On - site evaluation visit to Hungary

A MONEYVAL team of evaluators visited Hungary from 18 to 22 January 2010 under the fourth evaluation round. The visit was coordinated by the Ministry of Finance and the Hungarian Financial Supervisory Authority. The team met with State Secretary Tamas Katona as well as representatives from 25 organisations and agencies including law enforcement agencies, government departments,  financial services supervisors, trade associations and the private sector. The meetings were held in Budapest.

A key findings document was discussed with the Hungarian authorities and left with them at the conclusion of the mission. The draft report will now be prepared for review and adoption by MONEYVAL at its 33rd Plenary meeting (27-30 September 2010).

MONEYVAL`s fourth round evaluations are more focussed and primarily follow up the recommendations made in the 3rd round. Evaluation teams in the fourth round examine all Financial Action Task Force (FATF) key and core Recommendations as well as other Recommendations which were previously rated "non compliant" or "partially compliant". 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.

[11 January 2010] Mutual evaluation report on Armenia public

The 3rd round evaluation report on Armenia, as adopted at MONEYVAL’s 30th Plenary meeting (21-24 September 2009), is now available for consultation. The report was prepared by the International Monetary Fund under co-operation agreements between IMF and MONEYVAL. MONEYVAL was additionally responsible for evaluation of compliance with the European Union directives, which are part of MONEYVAL's specific mandate.  Links to :
Executive Summary
Mutual evaluation report
Report on compliance with the EU directives

[14 December 2009] Outcome of the 31st Plenary Meeting

MONEYVAL, at its 31st plenary meeting, achieved several significant results :
-          the adoption of the mutual evaluation reports of Serbia and of Bosnia and Herzegovina;
-          the adoption of the first progress reports submitted by Azerbaijan and Estonia;
-        the adoption of the second progress reports submitted by Latvia;
-          the adoption on 11 December, under Step VI of the Compliance Enhancing Procedures, of a fourth statement in respect of Azerbaijan and the withdrawal of previous public statements;
-          the adoption of a questionnaire on enforcement of civil confiscation orders.

With the adoption of these two mutual evaluation reports, MONEYVAL concluded its third round of mutual evaluations. The publication of the executive summaries of these reports as well as of the above-mentioned progress reports will take place shortly.

MONEYVAL also held exchanges of views on the impact of the global economic crisis on AML/CFT and on policy options for combating proliferation financing.

At this plenary, MONEYVAL elected for a mandate of two years its President, Mr Vladimir Nechaev (Russian Federation), its Vice-President, Mr Anton Bartolo (Malta), and three bureau members, Mr Damir Bolta (Croatia), Mr Alexandru Codescu (Romania) and Mr Armen Malkhasyan (Armenia).

Furthermore, MONEYVAL welcomed a new member of the Secretariat, Mr Sener Dalyan, kindly seconded by the Ministry of Justice  of Turkey.

The next plenary meeting is scheduled for 15-19 March 2010.

[November 2009] MONEYVAL 8th Typologies meeting

Over 80 experts from 24 countries and 2 international organisations attended from 10 to 12 November 2009 in Limassol the MONEYVAL’s 8th experts’ meeting on typologies, which was organised and co-financed by the Cypriot authorities, the Unit for Combating Money Laundering (MOKAS) and the Council of Europe. Private sector representatives were also invited to attend the meeting.

The meeting was opened by Mr Petros CLERIDES, Attorney General and was closed by Mr Charilaos STAVRAKIS, Minister of Finance of the Republic of Cyprus. The meeting was chaired by Ms Eva ROSSIDOU-PAPAKYRIACOU, Head of the Unit for Combating Money Laundering and Head of the delegation of Cyprus to MONEYVAL.

During the 3-day meeting, participants examined a number of emerging money laundering and terrorist financing methods and trends in the context of two typology research projects, focusing on the ways in which money launderers operate through the insurance and private pension funds sector, as well as through the internet gaming sector.

MONEYVAL undertakes regularly typologies researches to better understand the money laundering and terrorist financing environment in the European region and to assist through its findings decision makers and operational experts with up-to-date information in order that they may target policies and strategies to combat these threats. The final reports on these two topics are expected to be available in the second half of 2010.