MONEYVAL is a permanent monitoring mechanism of the Council of Europe, a pan-European organisation with 47 member states, reporting directly to its principal organ, the Committee of Ministers. MONEYVAL is entrusted with the task of 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 with the task of making recommendations to national authorities in respect of necessary improvements to their systems. MONEYVAL also conducts thematic typologies research of money laundering and terrorist financing methods, trends and techniques.
MONEYVAL was originally an observer to the FATF and from June 2006 became an associate member.
While 20 Council of Europe member states are evaluated by the FATF, 27 Council of Europe member states are members of MONEYVAL. The Russian Federation is a member of both MONEYVAL and the FATF. Two FATF members are designated by the FATF President to be members of MONEYVAL for a two-year period. As of 2017, these are France and Italy. The following countries or jurisdictions are likewise members of MONEYVAL: Israel; the Holy See (including the Vatican City State); the United Kingdom Crown Dependencies of Guernsey, Jersey and the Isle of Man; and the British Overseas Territory of Gibraltar.
States and territories’ representatives in MONEYVAL are senior officials and experts with responsibility for regulation and supervision of financial institutions; senior officials in law enforcement and financial intelligence units; or senior legal experts from ministries of justice and/or judicial and prosecutorial bodies.
For more information, please see the MONEYVAL website at www.coe.int/moneyval.
Countries and jurisdictions subject to evaluation by MONEYVAL
- Bosnia and Herzegovina
- Czech Republic
- The Holy See (including the Vatican City State)
- Russian Federation (also FATF member since 2003)
- San Marino
- Slovak Republic
- “The former Yugoslav Republic of Macedonia”
- The UK Crown Dependencies of Guernsey
- The UK Crown Dependencies of Jersey
- The UK Crown Dependencies of the Isle of Man
- The British Overseas Territory of Gibraltar
Several bodies, countries and organisations are granted observer status with MONEYVAL. Observers are entitled to send their representatives to MONEYVAL meetings but do not have voting rights.
- The Parliamentary Assembly of the Council of Europe, the Council of Europe Development Bank, the European Committee on Crime Problems, and the Conference of the Parties of the Convention on Laundering, Search, Seizure and Confiscation of the Proceeds from Crime and on the Financing of Terrorism (CETS 198);
- The European Commission and the Secretariat General of the Council of the European Union;
- Countries with observer status of the Council of Europe (i.e. Canada, Japan, Mexico, United States of America);
- Secretariat of the Financial Action Task Force (FATF);
- Commonwealth Secretariat;
- International Monetary Fund (IMF);
- United Nations Office on Drugs and Crime (UNODC);
- United Nations Counter-Terrorism Committee (CTC);
- United Nations Crime Prevention and Criminal Justice Division (CCPCJ);
- World Bank;
- European Bank of Reconstruction and Development (EBRD);
- Group of International Finance Centre Supervisors (GIFCS) (previously named Offshore Group of Banking Supervisors (OGBS);
- Organisation for Security and Co-operation in Europe (OSCE);
- Egmont Group of Financial Intelligence Units;
- Eurasian Group on Combating Money Laundering and Terrorist Financing (EAG);
- Any other FATF style regional body (FSRB) which becomes an associate member of the FATF, on the basis of reciprocity;
- Any member of the FATF not represented in MONEYVAL as one of the two delegations officially appointed by the FATF.