Committee of Experts on the Evaluation of Anti-Money Laundering Measures (MONEYVAL)

Moneyval logoMONEYVAL 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. 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.

For more information, please see the MONEYVAL website at www.coe.int/moneyval.

(*) 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 France.

Countries and jurisdictions subject to evaluation by MONEYVAL

Albania
Andorra
Armenia
Azerbaijan
Bosnia and Herzegovina
Bulgaria
Croatia
Cyprus
Czech Republic
Estonia
Gibraltar  *
Georgia
Guernsey *
Hungary
Holy See (since April 2011) *
Isle of Man *
Israel (since January 2006) *
Jersey *
Latvia
Liechtenstein
Lithuania
Malta
Moldova
Monaco
Montenegro
Poland
Romania
Russian Federation (also FATF member since 2003)
San Marino
Serbia
Slovak Republic
Slovenia
“The former Yugoslav Republic of Macedonia”
Ukraine

* Non-Members of the Council of Europe

Observers

Canada
Commonwealth Secretariat
Council of Europe Development Bank
Egmont Group of Financial Intelligence Units
European Bank of Reconstruction and Development (EBRD)
European Commission
European Committee on Crime Problems
Eurasian Group on Combating Money Laundering and Terrorist Financing (EAG)
Conference of the Parties of the Convention on Laundering, Search, Seizure and Confiscation of the Proceeds from Crime and on the Financing of Terrorism (CETS 198)
Group of International Finance Centre Supervisors (previously named Offshore Group of Banking Supervisors (OGBS))
ICPO-Interpol
International Monetary Fund (IMF)
Japan
Mexico
Parliamentary Assembly of the Council of Europe
Secretariat of the Financial Action Task Force on Money Laundering (FATF)
Secretariat General of the Council of the European Union
United Nations Office on Drugs and Crime (UNODC)
United Nations Counter-Terrorism Committee (CTC)
United States of America
World Bank
any other FATF style regional body (FSRB) which is or becomes associate member of the FATF, on the basis of reciprocity (currently only Asia Pacific Group on Money Laundering - APG)
  any other members of the FATF.