MONEYVAL holds regular meetings with ministers and high-level officials with the aim of taking decisive action to improve the effectiveness of measures to combat money laundering, the financing of terrorism and proliferation and to agree on direction and future strategic priorities.
MONEYVAL's plenary meetings take place in Strasbourg (France) at the seat of the Council of Europe. The number of annual plenary meetings is three. They consist of delegations of MONEYVAL Member States and territories and two FATF Member States, as well as representatives of observer States, organisations and institutions or bodies.
Another important function of MONEYVAL is to identify new and emerging money laundering and terrorist financing techniques and trends, to assess the level of these threats and report on the findings. On a regular basis, MONEYVAL undertakes typologies research to better understand the money laundering and terrorist financing environment in the European region and to provide decision-makers and operational experts with up-to-date information so that they may develop sound policies and strategies to combat these threats. The following section provides an overview of previous typologies work undertaken by MONEYVAL.
A voluntary tax compliance (VTC) programme refers to any programme that is designed to facilitate legalisation of a taxpayer’s situation vis-à-vis funds or other assets that were previously unreported or incorrectly reported. Countries may introduce VTC programmes for a variety of purposes including: raising tax revenue; increasing tax honesty and compliance; and/or facilitating asset repatriation for the purpose of economic policies, especially when the country is in an economic crisis.
MONEYVAL organises regular trainings for evaluators that aim at forming national experts from the fields relevant for the purposes of MONEYVAL mutual evaluations (legal, financial and law enforcement) with the view of establishing a pool of experts qualified to participate at the mutual evaluations as evaluators.
Technical assistance projects take many forms: providing expert opinions on draft legislation; organisation of courses; trainings and seminars on technical or policy issues; organisation of workshops; assistance in putting into place awareness-raising campaigns and events; or practical development of technical resources. MONEYVAL, as a monitoring body, analyses the systems put in place by its member states and jurisdictions, identifies weaknesses and shortcomings of the AML/CFT frameworks and consequently formulates recommendations on issues which should be addressed by the authorities.
As a body of the Council of Europe, MONEYVAL is answerable on the basis of its Statute to the Committee of Ministers. The Chairperson and the Executive Secretary of MONEYVAL shall present to the Committee of Ministers an annual report, containing the activities of the Committee undertaken, as well as information on the state of compliance with AML/CFT international standards in the States and territories that have been evaluated by MONEYVAL in the previous year.