Addressing MONEYVAL on the occasion of its 60th plenary meeting, Council of Europe Secretary General Marija Pejčinović Burić has stressed the importance of not relaxing anti-money laundering controls, which is taking place in some countries, and of strengthening effective compliance with international standards.
In the current COVID-19 context, the Secretary General warned that criminals must not be allowed to take advantage of the current crisis for their own profit. To tackle this risk, she called on MONEYVAL members to closely follow emerging trends in money laundering practices, including the use of technological innovations which may be misused by criminals.
With regard to MONEYVAL’s mandate, the Secretary General underlined its dual role as a specialised Council of Europe monitoring body and as a contributor to the global system to combating money laundering and the financing of terrorism led by the Financial Action Task Force (FATF).
The Secretary General reminded MONEYVAL that it is within its mandate to make proposals to the Committee of Ministers in the form of recommendations, if there is a need for specific action. Whilst national authorities should strive to comply with their anti-money laundering obligations, she said the Council of Europe is ready to facilitate the necessary reforms in member states through technical assistance and cooperation programmes.
During its plenary meeting, held from 16 to 18 September, MONEVYAL is discussing, with a view to their adoption, mutual evaluation reports on Georgia and the Slovak Republic, as well as follow-up reports on Bosnia and Herzegovina and the Isle of Man.