Georgia has taken steps to enhance its anti-money laundering and terrorist financing measures but still needs to tackle certain shortcomings, concludes the Council of Europe Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism (MONEYVAL) in a follow-up report released today.
This is the fourth follow-up report issued after the evaluation report of September 2020. Previous one was adopted in December 2024.
MONEYVAL finds that Georgia has made limited progress in addressing some of the technical compliance deficiencies impacting the application of the Financial Action Task Force (FATF) standards on targeted financial sanctions related to terrorism and terrorist financing, and targeted financial sanctions related to proliferation financing (Recommendation 6 and 7).
The progress made by Georgia was not sufficient to grant an upgrade on those two recommendations, and Georgia remains remain rated “partially compliant” on them.
The Georgian authorities did not request re-rating on other recommendations.
Overall, out of the 40 recommendations, Georgia is currently rated as:
• Compliant on seven recommendations;
• Largely compliant on 24 recommendations;
• Partially compliant on eight recommendations, and
• Non-compliant on one recommendation, that related to non-profit organisations.
In line with the MONEYVAL Rules of procedure, given that MONEYVAL’s onsite visit for the 6th round mutual evaluation of Georgia is scheduled for spring 2029, Georgia is no longer subject to the 5th Round follow-up process.
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The Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism (MONEYVAL) is a Council of Europe monitoring body and a Financial Action Task Force-Style Regional Body which assesses compliance with the main international standards to counter money laundering, the financing of terrorism and the financing of proliferation of weapons of mass destruction, as well as the effectiveness of their implementation. It comprises 35 jurisdictions, 32 of which are assessed solely by MONEYVAL.
