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MONEYVAL delegation takes part in the FATF Working Groups and Plenary Meeting

A MONEYVAL delegation, led by its President Mr Nicola Muccioli, took an active part in the FATF plenary and working groups meetings held in Paris from 19 to 23 February 2024. The delegation contributed to all working groups and issues discussed by the global network, including for example regarding the new risk-based guidance for the implementation of Recommendation 25 on beneficial ownership, the identification of jurisdictions with materially important virtual asset activity, the revisions of methodology in areas of confiscation of proceeds of crime or the protection of non-profit organisations from potential abuse for terrorist finance. The President held a meeting with FATF President T. Raja Kumar of Singapore  and FATF Vice-President Jeremy Weil of Canada to exchange views on a number of common priorities, strategic issues and continued cooperation within the global AML/CFT framework.

Details on outcomes of the FATF plenary meeting may be found here.

PARIS 29.02.2024
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At a glance

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 and the financing of terrorism 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. Through a dynamic process of mutual evaluations, peer review and regular follow-up of its reports, MONEYVAL aims to improve the capacities of national authorities to fight money laundering and the financing of terrorism more effectively.

MONEYVAL (formerly PC-R-EV) was established in 1997 and its functioning was regulated by the general provisions of Resolution Res(2005)47 on committees and subordinate bodies, their terms of reference and working methods. At their meeting on 13 October 2010, the Committee of Ministers adopted the Resolution CM/Res(2010)12 on the Statute of the Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism (MONEYVAL) . The statute elevates MONEYVAL as from 1 January 2011 to an independent monitoring mechanism within the Council of Europe answerable directly to the Committee of Ministers. MONEYVAL Statute was further amended in 2013 by the Resolution CM/Res(2013)13 and in 2017 by the Resolution CM/Res(2017)19.