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Statements MONEYVAL / FATF

The FATF

The Financial Action Task Force (FATF) is an inter-governmental body whose purpose is the development and promotion of policies, both at national and international levels, to combat money laundering and terrorist financing. The Task Force is therefore a "policy-making body" which works to generate the necessary political will to bring about national legislative and regulatory reforms in these areas.

The FATF monitors members' progress in implementing necessary measures, reviews money laundering and terrorist financing techniques and counter-measures, and promotes the adoption and implementation of appropriate measures globally. In performing these activities, the FATF collaborates with other international bodies involved in combating money laundering and the financing of terrorism.




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MONEYVAL

MONEYVAL is the Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism established in 1997 within the Council of Europe. The aim of MONEYVAL is to ensure that its member states have in place effective systems to counter money laundering and terrorist financing and comply with the relevant international standards in these fields.


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EVALUATION REPORTS - MONEYVAL

MONEYVAL’s system of peer review is based on the FATF model, however the process of self-assessment and mutual evaluation is undertaken against a more extensive set of anti-laundering standards. In addition to the Forty Recommendations and the nine Special Recommendations on the Financing of Terrorism, participating countries are assessed in relation to their compliance with the 1988 UN and 1990 Council of Europe conventions and the 3rd EU Directive on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing.

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