MONEYVAL

Moneyval is a Committee of experts on the evaluation of fight against money laundering measures and terrorist financing, established in 1997 by the Council of Europe. Its aim is to ensure that Member States have an effective system in place to combat money laundering and terrorist financing and that they comply with the relevant international standards in this area.

International standards

Below are the international standards on which MONEYVAL's assessments are based:

  • FATF's Forty Recommendations of 2003
  • United Nations Convention against illicit traffic in narcotic drugs and psychotropic substances (Vienna Convention, 1988)
  • United Nations Convention against transnational organized crime, (Palermo Convention, 2000)
  • The Council of Europe Convention on laundering, search, seizure and confiscation of the proceeds from crime (Strasbourg Convention)
  • The FATF's nine special recommendations on terrorist financing and several other related United Nations instruments (the International Convention for the Suppression of the Financing of Terrorism, approved by the General Assembly  of the United Nations, and the relevant United Nations Security Council resolutions on the freezing of terrorist-related assets)
  • Directive 2005/60/EC of the European Parliament and of the Council of 26 October 2005 on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing
  • Commission Directive 2006/70/EC of 1 August 2006 laying down implementing measures for Directive 2005/60/EC of the European Parliament and of the Council as regards the definition of politically exposed person and the technical criteria for simplified customer due diligence procedures and for exemption on grounds of a financial activity conducted on an occasional or very limited basis