The Council of Europe anti-money laundering and counter-terrorism financing body (MONEYVAL) has published follow-up reports on Azerbaijan, Croatia and Estonia, reassessing their technical compliance with a number of the 40 Financial action task force (FATF) recommendations.
Azerbaijan has strengthened measures against money laundering
In its follow-up report on Azerbaijan, MONEYVAL concludes that the country has improved its measures to tackle money laundering and combat the financing of terrorism. The country´s compliance rating has been upgraded on seven FATF recommendations, covering non-profit organisations, money or value transfer services, wire transfers, transparency and beneficial ownership of legal persons, regulation and supervision of financial institutions, statistics, and guidance and feedback to be provided by the authorities to defined market players to assist them in countering money laundering and terrorist financing.
Azerbaijan is rated as compliant with FATF standards on eight recommendations, largely compliant on 28, and partially compliant on four.
Progress on NPOs, but some deficiencies unresolved in Croatia
In its follow-up report on Croatia, MONEYVAL acknowledges the steps taken to enhance its anti-money laundering and counter terrorist financing measures, but notes that some shortcomings persist. The country has made significant progress in addressing, to a large extent, the technical compliance deficiencies affecting the application of the FATF standards to non-profit organisations.
Croatia is rated as compliant on seven recommendations, largely compliant on 27, and partially compliant on three.
Measures against weapons of mass destruction bolstered in Estonia
MONEYVAL finds that Estonia has also improved its measures to counter money laundering, terrorist financing and the financing of proliferation of weapons of mass destruction. In its follow-up report, MONEYVAL acknowledges the progress made towards strengthening, to a large extent, its legal and institutional framework for the implementation of targeted financial sanctions related to proliferation financing of weapons of mass destruction and the new technologies.
Estonia is rated as compliant on seven FATF recommendations, largely compliant on 21, and partially compliant on 12.
The Committee of experts on the evaluation of anti-money laundering measures and the financing of terrorism (MONEYVAL) is a Council of Europe monitoring body and a Financial action task force-style regional body which assesses compliance with the main international standards to counter money laundering, the financing of terrorism and the financing of proliferation of weapons of mass destruction, as well as the effectiveness of their implementation. It comprises 35 jurisdictions, 32 of which are assessed solely by MONEYVAL.
Read the report on Azerbaijan in full
Read the report on Croatia in full
Read the report on Estonia in full
Money laundering and terrorist financing reports on Georgia, Montenegro, Poland and Slovakia
