WWW.THESIS.DISLIB.INFO
FREE ELECTRONIC LIBRARY - Online materials, documents
 
<< HOME
CONTACTS



Pages:   || 2 | 3 | 4 | 5 |   ...   | 10 |

«ANNUAL REPORT 2012 MONEYVAL(2012)31 The Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism ...»

-- [ Page 1 ] --

The Committee of Experts

on the Evaluation of Anti-Money

Laundering Measures and

the Financing of Terrorism

MONEYVAL

ANNUAL REPORT 2012

MONEYVAL(2012)31

The Committee of Experts

on the Evaluation of Anti-Money

Laundering Measures and

the Financing of Terrorism

MONEYVAL

ANNUAL REPORT 2012

All rights reserved. Reproduction is authorised, provided the source is acknowledged, save where

otherwise stated. For any use for commercial purposes, no part of this publication may be translated, reproduced or transmitted, in any form or by any means, electronic (CD-Rom, Internet, etc) or mechanical, including photocopying, recording or any information storage or retrieval system without prior permission in writing from the MONEYVAL Secretariat Directorate General of Human Rights and Rule of Law Council of Europe F-67075 Strasbourg E-mail: moneyval@coe.int © Council of Europe 2013

CONTENTS

Introduction by Vladimir Nechaev, Chairman of MONEYVAL

EXECUTIVE SUMMARY

1.   Introduction and Background

1.1   Introduction

1.2  Overview of work conducted in 2012

1.3   Structure of this report

2.  Mission and Working Framework

2.1  Aim and status of MONEYVAL

2.2  Objectives and key information

2.3  Governance

2.4  Scientific Experts

3.   Key findings of adopted assessment visit reports 2012

3rd round assessment visit reports

3.1   4th round assessment reports

3.2   3rd round progress reports

4. 

4.1  Objectives and format

4.2  3rd round progress reports adopted in 2012

4.3  Summary of findings of the progress reports

th

5.   4 round follow-up reports

5.1   Objectives and Format

4th round follow-up reports considered in 2012

5.2   Summary of findings of the 4th round follow-up reports

5.3  

6.  Compliance Enhancing Procedures (CEPs)

6.1  CEPs Structure

6.2  CEPs reports heard in 2012

7.  Important identified deficiencies brought to the attention of the MONEYVAL jurisdictions not within the CEPs Process

7.1  Background to this process

7.2  Plenary consideration in 2012

8.  Typologies Work

8.1  Structure of Typologies work

8.2  Typologies projects in 2012

8.3  Typologies working group meeting

9.  Other important MONEYVAL work 2012

9.1  Key partnerships

9.2   Participation in other forums

9.3  Training and awareness-raising

10.  The Conference of the Parties to CETS 198 (COP)

11.   Conclusion

Appendix I

Speech by Mr Thorbjørn Jagland, Secretary General of the Council of Europe

Speech by Mr Jean-Claude Mignon, President of the Parliamentary Assembly

Speech by Mr Bjørn S. Aamo, President of the FATF

Speech by Mr Vladimir Nechaev, Chairman of MONEYVAL

Appendix II

List of abbreviations and acronyms

Introduction by the Chairman of MONEYVAL It is a privilege for me to present the Annual Report of MONEYVAL for 2012.

2012 was again a very busy year for MONEYVAL and the principal activities are set out in the Annual Report.

MONEYVAL is one of a number of FATF Style Regional Bodies (FSRB). I believe that a primary function of a FSRB is to improve the capacities of national authorities to fight money laundering and the financing of terrorism more effectively. MONEYVAL thinks that, broadly, it is achieving this aim. We received some external confirmation of this last year, with the publication in September of an independent evaluation of the European Commission’s cooperation with the Council of Europe, where the reviewers stated: “What can be said without hesitation is that the MONEYVAL monitoring process has contributed to better compliance as countries have been forced to report on concrete steps and their reports have been carefully scrutinised by the MONEYVAL secretariat”.

We are not, however, complacent. We know, sadly, that we cannot eradicate money laundering through our reports but we can minimise the risks through better compliance. This is a long haul. Overall, as we say in the Executive Summary, reports which have been considered in 2012 have broadly indicated a consistent improvement of formal compliance with international standards, particularly on the preventive side. But more is still required of all countries by way of effective implementation of the legal, financial and law enforcement standards. In particular, we think that more still needs to be done by law enforcement and prosecutorial authorities in achieving serious money laundering convictions and deterrent confiscation orders in major proceeds-generating offences. I regret that convictions of those third parties who launder proceeds on behalf of organised crime still remain very much the exception.

In December last year, I had the honour of presiding over MONEYVAL’s 15th anniversary plenary meeting.





The Secretary General, the President of the Parliamentary Assembly and the current President of the Financial Action Task Force each addressed us.

In his intervention, the President of the FATF had these encouraging words for us: “The work and experience of MONEYVAL have helped to strengthen the global AML/CFT network. MONEYVAL, through its hard work, has had an influence on how we as the global network ensure implementation of these standards by our member countries. In my view, the global AML/CFT network would not have been where it is today if it were not for this contribution.” In his intervention in December, the Secretary General stated: “Throughout the years, we have seen MONEYVAL become one of the most high profile and important monitoring mechanisms in Europe and we are very proud of its work.” In July 2012 MONEYVAL published its report on the Holy See (including Vatican City State). This was, I think, the first independent review of the Holy See ever undertaken, and understandably it attracted global media coverage for the work of this organisation. We were gratified by the Holy See’s response to the report in which they appreciated the objectivity of the mutual evaluation procedures, the evaluators’ acumen, and the active participation of the Members of the Plenary which adopted the report.

We look forward to considering the Holy See’s first progress report in 2013.

Another significant development in 2012 was the decision to allow for the full participation in MONEYVAL of the Crown Dependencies of Guernsey, Jersey and the Isle of Man, following a request by the United Kingdom. This brings the number of States and jurisdictions for which MONEYVAL is now responsible to 33.

Mutual evaluation reports are widely read by demanding and informed audiences. They are read not only by the governments that receive them, but by other governments assessing the risks in dealing with evaluated countries, by other important partner international bodies, including the IMF, and by the private sector, when making investment decisions in respect of our countries. Thus these reports are documents which need expert preparation.

The requirements of the international community on the secretariats of the AML/CFT assessment bodies will only increase in the future. We are fortunate in MONEYVAL to have a small but highly professional secretariat staff, backed up by very welcome secondments from member states and in conclusion, I would like to thank the secretariat for the quality of their work.

Vladimir NechaevChairman of MONEYVAL

Executive Summary This is the second report to the Committee of Ministers by the Chair and Executive Secretary of MONEYVAL under Article 10 of the Statute of the Committee of Experts on the Evaluation of anti-money laundering measures and the financing of terrorism, which was adopted by Resolution CM/Res(2010)12 (the statute of MONEYVAL).

Of the 30 jurisdictions evaluated by MONEYVAL at the beginning of 2012, 22 were subject to active monitoring processes by MONEYVAL in 20121.

In October 2012, the Committee of Ministers accepted the application of the United Kingdom for the United Kingdom Crown Dependencies of Guernsey, Jersey and the Isle of Man to become subject to MONEYVAL processes. Therefore, MONEYVAL is now responsible for the evaluation of 33 states and jurisdictions.

Reports which have been considered at MONEYVAL plenary meetings have broadly indicated a consistent improvement of compliance with international standards, particularly on the preventive side. Nonetheless, more still needs to be done by law enforcement and prosecutorial authorities in achieving serious money laundering convictions and deterrent confiscation orders in major proceeds-generating offences.

Furthermore, convictions of those third parties who launder proceeds on behalf of organised crime remain very much the exception.

MONEYVAL is an internationally recognised and influential global player in the anti-money laundering and countering the financing of terrorism (AML/CFT) world. It is a leading Associate Member of the Financial Action Task Force. It is respected as an effective monitoring mechanism for the quality of its outputs and the strength of its robust follow-up procedures, which are acknowledged as delivering results. Through its activities, MONEYVAL identifies and helps to reduce risks to the global financial system and identifies gaps in national AML/CFT systems, and actively follows up the progress countries made to rectify them.

In 2012 MONEYVAL contributed significantly to the visibility of the Council of Europe with the publication of its detailed assessment report on the Holy See (including Vatican City State), which was the subject of global media interest.

The Council of Europe’s and MONEYVAL’s strong market position in this area may be difficult to sustain in the longer term without more permanent AML/CFT expertise in the MONEYVAL Secretariat and for the Conference of the Parties to the 2005 Council of Europe Convention on Laundering, Search, Seizure and Confiscation of the Proceeds from Crime and on the Financing of Terrorism – the Warsaw Convention (CETS No.198).

The full list of states and jurisdictions evaluated by MONEYVAL is set out in section 2.1 below.

1. Introduction and Background

1.1 Introduction

2012 marks MONEYVAL’s 15th year of existence and in December MONEYVAL held its 40th plenary meeting. It is in its sixth year as a leading Associate Member of the FATF and, as such, remains a key player in the global network of anti-money laundering and countering the financing of terrorism (AML/CFT)2 assessment bodies (FATF Style Regional Bodies (FSRBs)). MONEYVAL’s evaluation processes in 2012 were based upon the major global AML/CFT standards, as represented by the 2003 FATF 40 Recommendations and the 9 Special Recommendations on Terrorism Financing.

28 Council of Europe member States are assessed by MONEYVAL (the full list of States is set out in section

2.1 below). In addition, Israel and the Holy See (including Vatican City State) participate fully in the evaluation processes of MONEYVAL and are subject to its procedures. Following a request by the United Kingdom, at their meeting on Wednesday 10 October 2012, the Committee of Ministers of the Council of Europe adopted a resolution agreeing to the participation in MONEYVAL of the Crown Dependencies of Guernsey, Jersey and the Isle of Man with immediate effect. Subsequently, the Crown Dependencies of Guernsey, Jersey and the Isle of Man all participated in MONEYVAL’s 40th plenary meeting in December

2012. Thus MONEYVAL now is responsible for assessing 33 jurisdictions.

MONEYVAL is now in its 4th round of assessment visits. This round commenced in late 2009, at the conclusion of the 3rd round of on-site visits. The 4th round of on-site visits is intended to be a shorter and more focused follow-up to the recommendations made in the 3rd round reports of all jurisdictions that undertook a 3rd round evaluation. MONEYVAL’s 4th round reassesses a number of the so-called core and key FATF standards (see Appendix II for details) and follows up all those Recommendations which received low ratings in the 3rd round. The 4th round focuses even more closely on the effectiveness of implementation of the international standards, particularly as many MONEYVAL countries have now had AML/CFT legislation in place for more than 15 years.

1.2 Overview of work conducted in 2012 2012 has once again been a year of intensive MONEYVAL monitoring work. Of the 30 jurisdictions subject to evaluation by MONEYVAL at the start of the year, 22 were subject to active monitoring processes by

MONEYVAL in 2012:

Principal Achievements in 2012 Five full on-site visits were undertaken with key findings left with the jurisdiction (Bulgaria, Croatia, Lithuania, Monaco and Poland). In addition a short follow-up visit to the Holy See (including Vatican City State) was conducted to assess the impact of new legislation.

One 3rd round evaluation report was adopted and published (Holy See (including Vatican City State)).

Six new 4th round evaluation reports were adopted and published3 (Andorra, Georgia, Latvia, Lithuania, Malta and Republic of Moldova).

Four 3rd round progress reports were subject to detailed Secretariat review, full plenary discussion, adoption and publication (Armenia, Montenegro, Serbia and Ukraine).

Two 4th round follow-up reports were subject to detailed Secretariat review and full plenary discussion (Czech Republic and Slovenia).

In addition, Hungary provided an interim follow-up report setting out the remedial action it has taken.

Five Compliance reports for jurisdictions in the Compliance Enhancing Procedures (CEPs) have been presented to the plenary in respect of the two jurisdictions currently in CEPs (Albania, 2 reports and Bosnia and Herzegovina, 3 reports).



Pages:   || 2 | 3 | 4 | 5 |   ...   | 10 |


Similar works:

«Lessons from Behavioural Economics for the Design of Commercial Law Legislation Dr Cliona Kelly * & Professor James Davey * * Author’s note: James Davey is unable to attend the 2015 Garret FitzGerald Autumn School as he will be addressing the UK Insurance Fraud Taskforce to urge the use of behavioural economics in the design of insurance policies and claim forms to deter opportunistic fraud. This, it is hoped, will provide further real world evidence of the power of empirically driven...»

«IPOL DIRECTORATE-GENERAL FOR INTERNAL POLICIES EGOV ECONOMIC GOVERNANCE SUPPORT UNIT BRIEFING Brexit: the United-Kingdom and EU financial services This briefing describes the prominent role of the UK in the single market for financial services, and highlights which activities rely today on passporting for their daily business with the other 27 Member States. The briefing relies on publicly available information, including secondary sources, such as analytical papers done by research institutes...»

«Review of Economic Studies (2011) 78, 613–639 doi: 10.1093/restud/rdq026 © The Author 2011. Published by Oxford University Press on behalf of The Review of Economic Studies Limited. Advance access publication 4 February 2011 Other-Regarding Preferences in General Equilibrium MARTIN DUFWENBERG University of Arizona and University of Gothenburg PAUL HEIDHUES European School of Management and Technology and CEPR GEORG KIRCHSTEIGER Université Libre de Bruxelles, ECORE, CEPR and CESifo...»

«atlatszo.hu – watchdog NGO and online news portal for investigative journalism in Hungary In July 2011 a Hungarian group of pro-transparency and anti-corruption journalists, lawyers, IT-specialists, academics and other independent experts founded Átlátszó Center for Investigative Journalism and launched atlatszo.hu (atlatszo means transparent in Hungarian) online portal for investigative journalism to promote transparency and freedom of information in Hungary. Atlatszo.hu produces...»

«THE RELATIONSHIP BETWEEN GDP, POPULATION AND SAVING: PANEL DATA EVIDENCE ON 6 ASEAN COUNTRIES Nurhikmah Ola Lairi10104610 Abstract The purpose of this paper is to examine the relationship between GDP, population and saving across the Asean-6 countries namely Indonesia, Malaysia, Singapore, Vietnam, Philippines and Thailand using Panel Data Econometrics. This paper uses Hausman Test to come up with fixed effect model as the best model. The study found the positive relation between population,...»

«This is the Mythos Mafia The Papal Bloodlines of the Jesuits. The Real Families, who from behind the scenes, control the World through Religion, Finance, Property, Land, and through control and manipulation of the Markets of the World This collated information from what is readily available on the Internet and other ‘sources’ should be read in conjunction with additional information written about this subject which helps to clarify a few of the points covered that may otherwise be...»

«June 1, 2006 Mr. Tad Decker, Chairman Pennsylvania Gaming Control Board PO Box 69060 Harrisburg, PA 17106-9060 Re: Chance Enterprises Category 2 Casino License Application for Adams County, Pennsylvania Dear Mr. Decker: The Local Impact Report (LIR) submitted by Chance Enterprises (“Applicant”) as part of its application for a Class 2 casino license shares as much or more in common with a fairy tale as it does a legitimate economic or local impact analysis. As summarized below, the...»

«UPDATED ECONOMIC AND FISCAL OUTLOOK FEBRUARY 2009 STATEMENT BY THE HONOURABLE WAYNE SWAN MP TREASURER OF THE COMMONWEALTH OF AUSTRALIA AND THE HONOURABLE LINDSAY TANNER MP MINISTER FOR FINANCE AND DEREGULATION OF THE COMMONWEALTH OF AUSTRALIA © Commonwealth of Australia 2009 ISBN 978-0-642-74503-3 This work is copyright. Apart from any use as permitted under the Copyright Act 1968, no part may be reproduced by any process without prior written permission from the Commonwealth. Requests and...»

«A Research Report on Gujarat Model of Entrepreneurial Innovation: A Study of Surat Diamond Industry Prepared by: Keyoor Purani, Faculty Member, GLS Institute of Business Management Under Guidance of: Prof. Dhawal Mehta, Director, GLS Institute of Business Mangement, Gujarat University, Ahmedabad.As a part of: EU – India Cross Cultural Innovation Network Project 1999-2000 Table of Contents Chapter : 1 The Research Overview 4 1.1 Introduction: 4 1.2 Research Objectives: 4 1.3 Research...»

«ECONOMIC GROWTH CENTER YALE UNIVERSITY P.O. Box 208269 New Haven, CT 06520-8269 http://www.econ.yale.edu/~egcenter/ CENTER DISCUSSION PAPER NO. 841 WAGE GAINS ASSOCIATED WITH HEIGHT AS A FORM OF HEALTH HUMAN CAPITAL T. Paul Schultz Yale University February 2002 Note: Center Discussion Papers are preliminary materials circulated to stimulate discussions and critical comments. I am grateful for the support of the Rockefeller Foundation, whose grant for research and training on the family in...»

«Technical and Vocational Education and Training (TVET) Challenges and Priorities in Developing Countries TITLE Technical and Vocational Education and Training (TVET) Challenges and Priorities in Developing Countries AUTHOR NAME AND AFFILIATION Moustafa Mohamed Moustafa Wahba; Competency Assurance & TVET Consultant Email: mmm_wahba@hotmail.com ABSTRACT The social and economic trends predicate the need for reforming the TVET Systems in different Developing Countries with a view to have a new...»

«How Important are Foreign Banks in the Financial Development of European Transition Countries? Ilko Naaborg*, Bert Scholtens*, Jakob de Haan, Hanneke Bol* and Ralph de Haas * University of Groningen, Groningen, The Netherlands. University of Groningen, Groningen, The Netherlands and CESifo, Munich, Germany. The Netherlands Bank, Amsterdam, The Netherlands. Keywords: Financial Development, Financial Institutions; Foreign Bank Entry; Transition Economies, Bank Performance. JEL code: F36, G15,...»





 
<<  HOME   |    CONTACTS
2017 www.thesis.dislib.info - Online materials, documents

Materials of this site are available for review, all rights belong to their respective owners.
If you do not agree with the fact that your material is placed on this site, please, email us, we will within 1-2 business days delete him.