Moneyval is the Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism of the Council of Europe. It was established in 1997 and it is an independent monitoring mechanism within the Council of Europe that responds directly to the Committee of Ministers.
Moneyval’s main function is to assess its member’s level of compliance with the principal international standards to fight money laundering and counter the financing of terrorism and the effectiveness of their implementation. With these assessments Moneyval detects deficiencies and necessary improvements within their systems and makes recommendations to national authorities with respect to the actions to be carried out.
It is composed by:
- Member States of the Council of Europe that are not members of the FATF (Article 2.2a of the Statute);
- Member States of the Council of Europe that become members of the FATF and request to continue to be evaluated by Moneyval (Article 2.2b of the Statute);
- Non-member States of the Council of Europe (Article 2.2e of the Statute), as Israel, the Holy See, the UK Crown Dependencies of Guernsey, Jersey and the Isle of Man and Gibraltar.
You can find further information relating Moneyval’s composition by accessing the following link.
Andorra has been a member of Moneyval since the beginning, and is currently monitored under the 5th Round Mutual Evaluation. Furthermore, Andorra actively participates in the plenaries held twice a year in Strasbourg.