MONEYVAL has continued its 5th round mutual evaluation of Romania with a meeting between the assessment team and country’s authorities held on 7 to 9 March 2023 in Strasbourg (France). The meeting is organised approximately two months ahead of the Plenary, at which the report on the country’s implementation of the FATF Standards (MER) will be discussed and adopted. Amongst other things, the meeting discussed a draft of the MER and comments provided by expert third party reviewers. Final changes will now be made to the MER ahead of MONEYVAL’s 65th Plenary which will be held on 24 to 26 May 2023 in Strasbourg.
At a glance
The Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism - MONEYVAL is a permanent monitoring body of the Council of Europe entrusted with the task of assessing compliance with the principal international standards to counter money laundering and the financing of terrorism and the effectiveness of their implementation, as well as with the task of making recommendations to national authorities in respect of necessary improvements to their systems. Through a dynamic process of mutual evaluations, peer review and regular follow-up of its reports, MONEYVAL aims to improve the capacities of national authorities to fight money laundering and the financing of terrorism more effectively.
MONEYVAL (formerly PC-R-EV) was established in 1997 and its functioning was regulated by the general provisions of Resolution Res(2005)47 on committees and subordinate bodies, their terms of reference and working methods. At their meeting on 13 October 2010, the Committee of Ministers adopted the Resolution CM/Res(2010)12 on the Statute of the Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism (MONEYVAL) . The statute elevates MONEYVAL as from 1 January 2011 to an independent monitoring mechanism within the Council of Europe answerable directly to the Committee of Ministers. MONEYVAL Statute was further amended in 2013 by the Resolution CM/Res(2013)13 and in 2017 by the Resolution CM/Res(2017)19.
Relevant Council of Europe websites
Conference of the Parties (COP) to the CETS 198