The Council of Europe, in close partnership with Armenia’s Financial Monitoring Center, Ministry of Justice, Chamber of Advocates, and State Revenue Committee, recently organised three specialised capacity-building events aimed at enhancing anti-money laundering and counter-terrorist financing (AML/CFT) compliance among designated non-financial businesses and professions (DNFBPs).
The workshops focused on promoting a risk-based approach in line with international AML/CFT standards and best practices. Participants from the legal, real estate, and gambling sectors were equipped with practical tools and knowledge to strengthen compliance with national AML/CFT obligations and reinforce their role in protecting Armenia’s financial system from criminal misuse.
Sessions covered a wide range of topics, including international standards and national legislation, sector-specific vulnerabilities, emerging money laundering typologies, risk assessment methodologies, identification of red flags, reporting obligations, and internal compliance procedures.
The events provided a platform for open dialogue between public institutions and private sector representatives, reinforcing a shared commitment to improving AML/CFT implementation across all relevant sectors. These discussions contributed to ongoing efforts to align Armenia’s AML/CFT framework with international standards and the Council of Europe’s Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism (MONEYVAL) recommendations.
This initiative represents a significant step towards strengthening the capacity and awareness of non-financial professionals in Armenia and enhancing the effectiveness of the country’s broader efforts to combat financial crime.
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”.
