Moneyval is the common and official name of the Committee of Experts on the Evaluation of Anti-
Money Laundering Measures and the Financing of
Terrorism
Terrorism, in its broadest sense, is the use of criminal violence to provoke a state of terror or fear, mostly with the intention to achieve political or religious aims. The term is used in this regard primarily to refer to intentional violen ...
. Moneyval is a monitoring body of the
Council of Europe,
[Resolution CM/Res(2010)12]
on the Statute of the Committee of Experts on the Evaluation of Anti-Money Laundering Measures
and the Financing of Terrorism (MONEYVAL), adopted by the Committee of Ministers on 13 October 2010 at the 1095th meeting of the Ministers’ Deputies with 47 member states, reporting directly to its principal organ, the
Committee of Ministers of the Council of Europe
The Committee of Ministers of the Council of Europe (French: ''Comité des ministres du Conseil de l'Europe'') or Committee of Ministers (French: ''Comité des ministres'') is the Council of Europe's decision-making body. It comprises the Foreign ...
.
[FATF]
Committee of Experts on the Evaluation of Anti-Money Laundering Measures (MONEYVAL)
/ref>
The task of Moneyval is assessing compliance with the principal international standards to counter money laundering and the financing of terrorism and the effectiveness of their implementation, as well as making recommendations to national authorities in respect of necessary improvements to their systems.
History
In 1997, the Council of Europe established the "Select Committee of Experts on the Evaluation
of Anti- Money Laundering Measures", carrying the official abbreviation of PC-R-EV, as a sub-committee of the European Committee on Crime Problems (CDPC, for ''Comité Européen pour les Problèmes Criminels''). Annual Report 1998-99
Financial Action Task Force on Money Laundering The functions of PC-R-EV were to be regulated by the general provisions of Resolution Res(2005)47 on committees and subordinate bodies.
In 2002, the name of the committee was changed to "Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism", with the
abbreviation Moneyval, on the grounds that "the abbreviation 'PC-R-EV' does not express the aim of the committee’s activities sufficiently clearly."
[Request by the Principality of Monaco to be evaluated by the Select Committee of Experts on the evaluation of anti-money laundering measures]
Rapporteur Group on Legal Co-operation, Council of Europe, 13 May 2002
At their meeting of 13 October 2010, the Committee of Ministers adopted a resolution elevating Moneyval, from 1 January 2011, to an "independent monitoring mechanism within the Council of Europe, answerable directly to the
Committee of Ministers".
[Moneyval in brief]
Council of Europe website
See also
*
FATF
The Financial Action Task Force (on Money Laundering) (FATF), also known by its French name, ''Groupe d'action financière'' (GAFI), is an intergovernmental organisation founded in 1989 on the initiative of the G7 to develop policies to combat mo ...
, Financial Action Task Force on Money Laundering, also known as ''Groupe d'action financière'' (GAFI), an intergovernmental organization founded in 1989 on the initiative of the
G7
*
GIABA, Inter-Governmental Action Group against Money Laundering in West Africa, an institution of the
Economic Community of West African States
The Economic Community of West African States (ECOWAS; also known as in French and Portuguese) is a regional political and economic union of fifteen countries located in West Africa. Collectively, these countries comprise an area of , and in ...
*
APG, Asia/Pacific Group on Money Laundering, also known as APGML
CDPC European Committee on Crime Problems, Council of Europe
*
Europol,
European Union
The European Union (EU) is a supranational political and economic union of member states that are located primarily in Europe. The union has a total area of and an estimated total population of about 447million. The EU has often been de ...
's law enforcement agency
*
List of acronyms associated with the Eurozone crisis
References
{{reflist
External links
Official website
Financial crime prevention
Tax evasion
Law enforcement in Europe
Funding of terrorism