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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 21 to 25 October 2024. The delegation contributed to a number of the FATF workstreams, including the preparation of the new evaluation round and the framework of the FATF and FSRBs coordination on this matter, discussions on de-risking and financial exclusion, progress made with regard to the EU supranational measures project, possible changes in the FATF standards, as well as the discussions on the FATF mutual evaluation reports.

The delegation also closely followed the processes of the International Co-operation Review Group (ICRG), in respect of MONEYAL members which are currently subject to the ICRG processes.

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

Paris, France 25.10.2024
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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.