Ministers responsible for anti-money laundering policies from the member States and territories of the Council of Europe’s MONEYVAL Committee have committed to improve the effectiveness of their regimes to prevent and fight money laundering, the financing of terrorism and weapons of mass destruction proliferation.
In a Declaration adopted at the end of a high-level meeting in Warsaw organised by the Ministry of Finance of Poland and MONEYVAL, the ministers underscore that illicit finance poses a major threat to economic development and security, making the need for effective anti-money laundering and counter-terrorist financing measures more apparent than ever.
The ministers acknowledge that there is room to enhance the level of implementation of measures to counter money laundering and terrorist financing in their countries and commit to strengthening their compliance and effectiveness in the next five years.
They note that MONEYVAL evaluations have shown an overall positive performance of its members concerning international cooperation and information exchanges. However, the ministers regret the poor results so far in prosecuting and convicting money launderers and confiscating their crime proceeds, including from organised crime, trafficking in persons, drugs and arms, corruption and extortion, cybercrime, smuggling, and fraud.
Joining the Council of Europe’s Committee of Ministers in condemning the aggression of the Russian Federation’s against Ukraine, the ministers support the development of further proportionate legal responses to the aggression, including seizure and confiscation measures. They also stress that the Russian Federation actions unacceptably run counter to the Financial Action Task Force’s (FATF) core principles aiming to promote security, safety and the integrity of the global financial system.
Finally, the ministers value and encourage further development of MONEYVAL’s role in the Global Network led by the FATF, closer relationships with other FATF-style regional bodies, the European Commission and other EU institutions.
During the meeting, the ministers adopted MONEYVAL’s strategic priorities for 2023-2027, which include preparing and launching its 6th evaluation round, to be carried out from 2024 to 2032.
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The Committee of experts on the evaluation of anti-money laundering measures and the financing of terrorism (MONEYVAL) is a permanent monitoring body of the Council of Europe entrusted with the task of assessing compliance with the principal international standards to counter money laundering, financing of terrorism and proliferation of weapons of mass destruction and the effectiveness of their implementation, as well as with the task of making recommendations to national authorities in respect of necessary improvements to their systems.
More information:
- Declaration of Ministers and high-level delegates of the member States and territories of MONEYVAL
- MONEYVAL Strategy on anti-money laundering, combating the financing of terrorism and proliferation financing (2023-2027)
- Programme
- Speech by Deputy Secretary General Bjørn Berge
- Committee of experts on the evaluation of anti-money laundering measures and the financing of terrorism (MONEYVAL)
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