Money laundering (MONEYVAL)
The Council of Europe has established two different mechanisms to combat money laundering and terrorist financing that work in close co-operation. The Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism (MONEYVAL) is an independent monitoring body which assesses compliance with the principal international standards to counter money laundering and terrorist financing.
It is an associate member of the Financial Action Task Force (FATF). The Conference of the Parties (COP) to the Council of Europe “Warsaw” Convention on Laundering, Search, Seizure and Confiscation of the Proceeds from Crime and on the Financing of Terrorism is responsible for monitoring the provisions of that convention. It deals with areas not covered by MONEYVAL and the FATF.
The aim of MONEYVAL is to ensure that its member states have in place effective systems to counter money laundering and terrorist financing and comply with the relevant international standards in this matter. This includes several requirements on NGOs to prevent terrorism financing. MONEYVAL engages with NGOs on a selective basis in the context of its mutual evaluations to determine the level of terrorism financing risk and mitigating measures in assessed jurisdictions.