Banks and institutions cannot be used for AML/CFT to combat virtual assets says Moneyval
Traditional forms of control that banks and institutions have on financial flows and services cannot be used to combat emerging money laundering and terrorist financing risks related to virtual assets according to the Council of Europe’s anti-money laundering and counter financing of terrorism (AML/CFT) watchdog,…
AML/CFT compliance ‘below satisfactory’ in 19 European jurisdictions says Moneyval
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…
Council of Europe warns Georgia of TBML and trade-based terrorism financing risks
The Georgian authorities are being urged to strengthen measures to better understand the risks of trade-based money laundering (TBML), including its use in the financing of terrorism in a new report published by the Council of Europe’s anti-money laundering body. The Committee of Experts on…
