There is a serious need to improve the effectiveness of states’ action against money laundering and terrorist financing according to the Council of Europe’s anti-money laundering and counter financing of terrorism (AML/CFT) body Moneyval in its recently released Annual Report for 2020.

It finds that the 19 states and jurisdictions it evaluated show on average a moderate level of effectiveness in their efforts to combat money laundering and terrorist financing. As a consequence their level of compliance with AML/CTF standards is below satisfactory.

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