MONEYVAL’s constitutive document is its Statute, which sets forth its structure and mandate. MONEYVAL’s Statute was first adopted in 2010 by 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), which has been since amended in 2013 the Resolution CM/Res(2013)13 and in 2017 by the Resolution CM/Res(2017)19.
MONEYVAL finalised in 2015 its fourth round of mutual evaluations, following up on the results of the third round of mutual evaluations, to assess compliance with the global anti-money laundering and combating financing of terrorism standards, based on the 2003 FATF Recommendations, and the 2004 Methodology, (as amended from time to time) and the effectiveness of their implementation. This document sets out the procedures and processes applicable to MONEYVAL States and territories in this context.
Rules of Procedure
Pursuant to its Statute, MONEYVAL shall draw up its own rules of procedure. MONEYVAL’s Rules of Procedure regulate in detail the functioning and structure of MONEYVAL, as established in the Statute. In addition, the Rules of Procedure set out the procedures under which MONEYVAL assesses compliance with the global anti-money laundering and combating financing of terrorism standards. In particular, they define the evaluation cycles and the practical undertaking of evaluations and adoption of reports. Given that MONEYVAL currently has three on-going evaluation rounds (for further detail, please refer to the section Evaluation Cycles, two sets of rules of procedure are in force at the moment.
On the one hand, MONEYVAL continues to follow-up on its third round of mutual evaluations in respect of some countries. In 2015, it is also finalising its fourth round of mutual evaluations, as well as following up on its results. Both of these rounds are based on the 2003 FATF Recommendations, and the 2004 Methodology. The Rules of procedure for the 4th round of mutual evaluations and for follow up as a result of the third evaluation round (last revised in September 2017) set out the procedures and processes applicable to MONEYVAL States and territories in this context.
Starting in 2015, MONEYVAL is also conducting a fifth round of mutual evaluations for States and territories which are subject to its evaluation procedures, in order to assess their compliance with the relevant international AML/CFT standards. These evaluations are undertaken based on FATF 2012 Recommendations (last updated in October 2018), and the 2013 Methodology for Assessing Compliance with the FATF Recommendations and the Effectiveness of AML/CFT Systems (last updated in February 2019). The Rules of procedure for the 5th round of mutual evaluations (last revised in December 2019) set out the procedures on the basis of which this fifth round of mutual evaluations is undertaken.
In addition, MONEYVAL conducts assessments of compliance of voluntary tax compliance programmes established in its Member States and territories with the AML/CFT framework. For this purpose, the Committee adopted special rules of procedure: Procedures related to the implementation of voluntary tax compliance programmes and AML/CFT requirements by countries and territories evaluated by MONEYVAL. For further information on the assessment of VTC schemes, please, refer to the section Voluntary tax compliance.