The EAG representatives took part in the 36th Plenary meeting of the Council of Europe Expert Committee (MONEYVAL)

The EAG delegation took part in the work of the MONEYVAL Plenary meeting which passed in Strasbourg (France) from 26 to 28 September 2011.

The meeting was conducted by the MONEYVAL Chairman Vladimir Nechaev.

In the course of the Plenary meeting the progress report of the Russian Federation on the implementation of the recommendations on the results of the mutual evaluation, which had been conducted jointly by the FATF, the Eurasian group an the MONEYVAL in 2008, was discussed. At the meeting of the Committee the Russian delegation, headed by the Head of the Rosfinmonitoring Yuri Chikhanchin, informed about the undertaken steps on eliminating deficiencies in the national AML/CFT system. The Plenary approved the report of the Russian Federation noting the progress of the country on a number of key directions.

In the framework of the meeting also the reports on mutual evaluation of Slovakia, Cyprus and San-Marino, the report on the progress of Macedonia, as well as the reports of Albania, Bosnia and Herzegovina and Moldova in the framework of compliance enhancing procedure were discussed. On the results of the discussion Moldova was transmitted on the procedure of standard monitoring considering the progress made by this country.

While examining the reports the special attention was paid to the issues of effectiveness of the implementation of the legislative and institutional measures of combating money laundering and financing of terrorism. In the course of the meeting the FATF initiative on the development of the interaction between the FATF-style regional bodies (FSRBs) was discussed.

In this connection the MONEYVAL and the EAG are brought together with the common approach, directed to the further development of the autonomy of the FSRB, but at the same time providing for the strengthening of the dialogue between the FSRBs and the FATF with the aim to exchange experience and best practices of the organization of work.

The Plenary meeting also approved the project of the typology report on the criminal flows in the Internet, which had been elaborated with the participation of the Eurasian group on the results of the joint EAG And MONEYVAL seminar in November 2010.