Ministers responsible for anti-money laundering policies from the member states and territories of the Council of Europe’s MONEYVAL Committee have committed to improving the effectiveness of their regimes to prevent and combat money laundering, the financing of terrorism and the proliferation of weapons of mass destruction.
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 underscored 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 scope for enhancing 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.
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. Speakers at the opening included Minister of Finance of Poland Magdalena Rzeczkowska, Council of Europe Deputy Secretary General Bjørn Berge and President of the Financial Action Task Force Raja Kumar.
