Back Enhancing compliance with targeted financial sanctions in Armenia as an effective tool to prevent and suppress terrorism financing

Enhancing compliance with targeted financial sanctions in Armenia as an effective tool to prevent and suppress terrorism financing

International standards require countries to implement targeted financial sanctions regimes relating to the prevention and suppression of terrorism and terrorist financing. The freezing of the assets of those suspected of terrorism financing and those listed in domestic and international sanctions lists is a highly effective way to disrupt terrorist attempts to raise, move, and use funds.

The Council of Europe, in cooperation with the Financial Monitoring Centre under the Central Bank of Armenia, organised a 2-day workshop for relevant AML/CFT supervisory authorities aimed at discussing their roles and responsibilities in implementing and enforcing targeted financial sanctions regimes.

The workshop offered a thorough overview of the existing framework for international sanctions, types of sanctions (financial, economic, trade) and criteria for listing of individuals and entities in international sanctions lists. The responsibilities of the national authorities of Armenia were analysed (listing/delisting, licensing, requesting access to funds, export controls) with a focus on how each function is crucial in terms of ensuring effective enforcement of international sanctions.

Ways to implement effective supervision over the implementation of targeted financial sanctions (and available procedures and resources in Armenia) was tackled during the event with the aim to further enhance internal practices to supervise and monitor compliance, by the obliged entities, with the implementation of targeted financial sanctions regimes.

This event is part of the European Union and the Council of Europe joint programme “Partnership for Good Governance”, co-funded by the European Union and the Council of Europe, and implemented by the Council of Europe, in the framework of the Project on “Enhancing national capacities for effective prevention and fight against economic crime in Armenia”.

YEREVAN, ARMENIA 22-23 JULY 2024
  • Diminuer la taille du texte
  • Augmenter la taille du texte
  • Imprimer la page

The Council of Europe is the continent’s leading human rights organisation, with 46 member states, including Armenia. All our member states are party to the European Convention on Human Rights, which is the cornerstone of human rights protection in Europe.

The Council of Europe Office in Yerevan, represents the Secretary General in Armenia. It closely co-operates with national authorities supporting the implementation of statutory obligations to the Council of Europe by Armenia through co-operation projects.


 

Armenia and the Council of Europe – bringing human rights from the conference table to your kitchen table

The Council of Europe works for you. We want to give visibility to the role, standards and work of the Council of Europe in its member states, to show how Council of Europe membership has helped achieve particular results or changes. Our aim, through a variety of events and actions, is to highlight ways in which the Council of Europe’s action has helped improve the life of individuals and contributed to improving people’s enjoyment of fundamental rights.

 

Whether it is the impact of the European Convention on Human Rights at national level, or the Council of Europe's work in many fields, such as working to abolish the death penalty or to ensure freedom of expression and freedom of the media, or to adress online and technology-facilitated violence against women through the Istanbul Convention and Budapest Convention on Cybercrime, the Council of Europe has achieved a lot since 1949. View achievements »