Moneyval

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MONEYVAL Members

Committee of Experts on the Evaluation of Anti-Money Laundering Measures (formerly PC-R-EV) established in 1997.

Albania

Andorra

Armenia

Azerbaijan

Bosnia and Herzegovina

Bulgaria

Croatia

Cyprus

Czech Republic

Estonia

Georgia

Hungary

Latvia

Liechtenstein

Lithuania

Malta

Moldova

Monaco

Montenegro

Poland

Romania

Russian Federation

San Marino

Serbia

Slovakia

Slovenia

The former Yugoslav Republic of Macedonia

Ukraine

 

Observers

Canada

Holy See

Israel

Japan

Mexico

United States

Members of the FATF other than those referred to as members

Secretariat of the FATF

Commission of the European Communities

Secretariat General of the Council of the European Union

ICPO-Interpol

Commonwealth Secretariat

International Monetary Fund (IMF)

United Nations Office on Drugs and Crime (UNODC)

United Nations Counter-Terrorism Committee (CTC)

World Bank

European Bank of Reconstruction and Development (EBRD)

Offshore Group of Banking Supervisors (OGBS)

Egmont Group

Eurasian Group on Combating Money Laundering and Terrorist Financing (EAG)

Background on the MONEYVAL (Formerly PC-R-EV)

 

In 2002, the PC-R-EV formally changed its name to MONEYVAL. MONEYVAL was established in September 1997 by the Committee of Ministers of the Council of Europe to conduct self and mutual assessment exercises of the anti-money laundering measures in place in Council of Europe member states, which are not members of the Financial Action Task Force * (FATF). The effort includes encouraging jurisdictions to improve their anti-money laundering measures in keeping with the FATF Forty + 9 Recommendations and to enhance international co-operation. Currently 28 Council of Europe member States are evaluated by MONEYVAL. In 2006 the Committee of Ministers accepted the application of the State of Israel to join MONEYVAL’s terms of reference and Israel has since been evaluated by MONEYVAL. MONEYVAL also engages in a regular typologies exercise focused on the methods and trends of money laundering activity.

MONEYVAL takes into account the practices and procedures of the FATF in its work. MONEYVAL is a sub-committee of the European Committee on Crime Problems of the Council of Europe (CDPC). Each of its member countries is entitled to appoint three experts to MONEYVAL. These individuals are selected based on their expertise in legal issues related to national and international anti-money laundering instruments, supervision of financial institutions, and law enforcement matters. There are thrice-yearly Plenary meetings of the Committee at which the national experts consider and adopt draft mutual evaluation reports and follow up reports of evaluated members of members. Additionally, the MONEYVAL membership also includes experts from the past and current Presidency of the FATF and four scientific experts appointed by the Secretary General.

When MONEYVAL (then called PC-R-EV) was formed in 1997, a document containing the terms of reference for the Committee was agreed at the same time. The Terms of Reference have since been amended to extend the mandate of the Committee until 31 December 2010. The amended Terms of Reference also permit FATF member countries to participate as observers in the work of the Committee.

Following the events of 11 September 2001, MONEYVAL expanded its mandate to include countering terrorist financing.

MONEYVAL became an Associate Member of the FATF in 2006.

NOTE:

(*) The Russian Federation is a member of both MONEYVAL and the FATF. Two countries are designated by the FATF President to be members of MONEYVAL for a two year period. Currently these members are Austria and United Kingdom.

 

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