The delegation of Ukraine takes part in "face to face" meeting with the representatives of the Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism (MONEYVAL)
During October 2 – 4, 2017, the delegation of Ukraine, headed by a representative of the State Financial Monitoring Service of Ukraine takes part in "face to face" meeting with MONEYVAL representatives, in Strasbourg, the French Republic.
In course of the meeting the technical aspects of the national AML/CFT system (based on the FATF methodology of 2013) and the issues of the effectiveness of implementation of 11 Immediate Outcomes, in particular:
- Risk, Policy and Coordination (Immediate Outcome 1);
- International Cooperation (Immediate Outcome 2);
- Supervision (Immediate Outcome 3);
- Preventive Measures (Immediate Outcome 4);
- Legal Persons and Arrangements (Immediate Outcome 5);
- Financial intelligence (Immediate Outcome 6);
- ML investigation and prosecution (Immediate Outcome 7);
- Confiscation (Immediate Outcome 8);
- TF investigation and prosecution (Immediate Outcome 9);
- TF preventive measures and financial sanctions (Immediate Outcome 10);
- PF financial sanctions (Immediate Outcome 11).
At the same time, the MONEYVAL assessment team will be provided with additional information and statistics in order to improve ratings on the effectiveness of the national AML/CFT system of Ukraine and Technical compliance with the FATF Recommendations.
For reference:
Ukraine is a member of MONEYVAL since 1997. The aim of MONEYVAL is to ensure that its member states have in place effective systems to counter money laundering and terrorist financing and comply with the relevant international standards in this matter. MONEYVAL carries out mutual evaluations of all relevant international standards in legal, financial and law enforcement spheres in its member states. MONEYVAL Mutual Evaluation Reports contain detailed recommendations on increasing the effectiveness of the AML/CFT systems, as well as capabilities of states to ensure international cooperation in these spheres.
In March-April, 2017 the MONEYVAL on-site visit within the 5th round of mutual evaluations has been conducted in Ukraine.
In accordance with the Rules of Procedure for conducting the 5th round of mutual evaluations, in order to further discuss the draft Mutual Evaluation Report of Ukraine, it is foreseen to hold face-to-face meetings of the MONEYVAL assessment team and representatives of the competent authorities of Ukraine.
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