In a new report the Council of Europe’s anti-money laundering body MONEYVAL calls on North Macedonia’s authorities to further strengthen its measures to combat money laundering (ML), financing of terrorism (FT) and financing of proliferation (FP), in particular in the investigation and prosecution fields. MONEYVAL draws up a comprehensive assessment of the country’s level of compliance with international standards set by the Financial Action Task Force (FATF). It concludes that, having strengthened its legal framework since the last mutual evaluation, North Macedonia has laid the foundations for a sound regime to tackle money laundering and terrorist financing, but needs to improve the implementation of measures in several areas.
MONEYVAL finds that the North Macedonia’s authorities co-operate internationally in a constructive manner, although there are some shortcomings in terms of timeliness and quality of some of the responses provided. This could be improved by establishing clear policy objectives and procedures, and an integrated case management system and prioritisation mechanisms.
North Macedonia is expected to report back to MONEYVAL under its enhanced follow-up reporting process in May 2025.
