Outcome of MONEYVAL's 52nd Plenary meeting

Strasbourg,France 13 December 2016
  • Diminuer la taille du texte
  • Augmenter la taille du texte
  • Imprimer la page
  • Imprimer en PDF
Outcome of MONEYVAL's 52nd Plenary meeting

MONEYVAL held its 52nd plenary meeting in Strasbourg from 6 to 8 December 2016.

At this meeting, the Plenary, inter alia:

  • Heard an address, at the opening of the Plenary, by Mr Juan Manuel Vega-Serrano, the President of the Financial Action Task Force (FATF);
  • Adopted the 5th round MER and executive summary on the United Kingdom Crown Dependency of the Isle of Man (MONEYVAL will finalise the mutual evaluation report for publication after the quality and consistency review, in accordance with its procedures);
  • Took note of the follow-up reports by Lithuania, the Republic of Moldova and the Slovak Republic under the 4th round of mutual evaluations and invited the countries to provide further follow-up reports at the 53rd Plenary (30 May – 1 June 2017), while encouraging them to then seek removal from the follow-up process;
  • Took note of the compliance reports of the Czech Republic and Montenegro under the Compliance Enhancing Procedures;
  • Took note of further interim reports for the 5th round of mutual evaluations (Armenia) and the 4th round of mutual evaluations (Azerbaijan, Croatia, “The former Yugoslav Republic of Macedonia”, Israel and Poland);
  • Heard an update analysis from the Secretariat on the follow-up procedure of the Terrorist Financing Fact-Finding Initiative, and decided to remove from the procedure the following three countries: Bosnia and Herzegovina, Montenegro and the Republic of Moldova;
  • Heard a presentation and had an exchange of views with an ad hoc working group on the impact on MONEYVAL’s work by the European Court of Human Rights’ Grand Chamber judgment of Al-Dulimi and Montana Management v. Switzerland of 21 June 2016;
  • Heard an update by and had an exchange of views with the FATF on the new International Cooperation Review Group (ICRG) procedure for the current round of evaluations; 
  • Heard a presentation on the joint World Bank/Egmont Group project on “Financial Intelligence Units cooperation with law enforcement authorities and prosecutors”; and 
  • Had a discussion on recent developments concerning the issue of “correspondent banking/de-risking”.

Reports adopted will be made available shortly under each jurisdiction’s profile, in accordance with MONEYVAL’s publication policy. 

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.

Latest report on AndorraLatest report on Andorra

In a report published on 14 November 2017, MONEYVAL says that the Andorran authorities have acquired a reasonably comprehensive understanding of the money laundering and terrorism financing risks faced by the country. It however calls for a clear political oversight to be put in place in order to monitor the implementation of the action plans adopted to mitigate those risks.

MONEYVAL underlines that it is evident that there has been the political commitment in Andorra to make sweeping changes to legislation concerning both money laundering and the financing of terrorism.

The report also states that Andorra has enacted a robust legal framework for criminalising terrorist financing and the absence of prosecutions for this criminal offence appears to be broadly in line with the country’s risk profile.

Finally, MONEYVAL praises Andorra for proactively seeking and providing legal assistance to foreign jurisdictions and recommends removal of dual criminality as a requirement for rendering mutual legal assistance.