Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism
Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism – MONEYVAL (formerly PC-R-EV – till 2002) was established in 1997. MONEYVAL is a sub-committee of the European Committee on Crime Problems of the Council of Europe (CDPC).
This evaluation mechanism reviews the anti-money laundering measures and measures to counter the financing of terrorism in Council of Europe member States (and Council of Europe applicants which apply to join the terms of reference) which are not members of the FATF. Council of Europe member states which are members of MONEYVAL but subsequently become members of the FATF can elect to retain full membership of MONEYVAL.
The aim of this mechanism is to ensure states have in place effective systems to counter money laundering and terrorist financing. It mutually evaluates states against all relevant international standards in the legal, financial and law enforcement sectors. Its reports provide highly detailed recommendations on ways to improve the effectiveness of domestic regimes to combat money laundering and terrorist financing and states’ capacities to co-operate internationally in these areas.
MONEYVAL’s plenary meetings are usually held 3-4 times a year. In addition, it also organizes events aimed at exchanging experience in combating money laundering and terrorist financing (typologies workshops) and preparing experts acting as evaluators in the mutual evaluation process (training seminars).
MONEYVAL has the status of Associate Member within the FATF.
MONEYVAL Members
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Albania
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Andorra
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Armenia
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Azerbaijan
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Bosnia and Herzegovina
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Bulgaria
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Croatia
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Cyprus
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Czech Republic
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Estonia
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Georgia
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Hungary
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Latvia
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Liechtenstein
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Lithuania
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Moldova
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Malta
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Monaco
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Montenegro
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Poland
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Romania
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Russian Federation
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San Marino
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Serbia
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Slovakia
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Slovenia
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Macedonia
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Ukraine
There are also two countries designated by the FATF Presidency on a two years basis that are MONEYVAL members. For the current period, these are:
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France
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Netherlands
MONEYVAL Observer states
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Canada
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Holy See
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Israel (has an active observer status)
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Japan
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Mexico
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United States
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Members of the FATF that are not MONEYVAL members
MONEYVAL Observer organizations
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Commission of the European Communities
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Commonwealth Secretariat
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Egmont Group of Financial Intelligence Units
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Eurasian Group on Combating Money Laundering and Financing of Terrorism (EAG)
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European Bank of Reconstruction and Development (EBRD)
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Financial Action Task Force on Money Laundering (FATF)
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International Monetary Fund (IMF)
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Interpol
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Offshore Group of Banking Supervisors (OGBS)
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Secretariat General of the Council of the European Union
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United Nations Counter-Terrorism Committee (CTC)
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United Nations Office on Drugs and Crime
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World Bank