The interagency delegation included representatives of Russian Ministry of Finance, Russian Federal Security Service, Bank of Russia and Judicial Department at the Supreme Court of the Russian Federation and was headed by Rosfinmonitoring. It took part in the 55th Plenary session of the Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism – MONEYVAL which was held on December 4-8, 2017 in Strasbourg.
The event was opened by the Head of the CE Directorate General on human rights and rule of law Mr. Christos Giakoumopoulos. His welcoming remarks dedicated to the 20th MONEYVAL anniversary indicated importance and relevance of the Committee efforts, underlining its authority as one of the most effective CE structures. On the occasion of the organization’s jubilee and the termination of contract of its scientific expert, Professor Bill Gilmour was awarded with the medal of CE General Secretary “For services to the Council of Europe”. The scientist became the first owner of such a reward in the whole MONEVAL history.
Following the results of the regular elections of the Committee’s leadership the present Chairman D.Telesklaf (Liechtenstein) remained in office for other 2 years. His deputies became representatives of Poland and Russia (A.Petrenko, Rosfinmonitoring), and the new Bureau member – a delegate from France.
The central issue on the agenda was the discussion of the Ukrainian evaluation report according to the updated FATF methodology. The discussion focused on assessing the level of the country's understanding of its own ML/TF risks, as well as measures undertaken by the jurisdiction to minimize them. Despite the final positive rating of IO 1 (national risk assessment) as a serious deficiency was mentioned lack of understanding of risks linked to shadow economy, trans-border movement of money funds and abuse of NPOs and legal persons for ML/TF purposes. In conclusion the Ukraine was put on enhanced monitoring which means annual reports on progress in meeting the identified shortcomings.
Under preparation for the upcoming joint FATF/MONEYVAL/EAG evaluation of the Russian anti-money laundering system in 2018-2019, the Rosfinmonitoring experts disclosed detailed information on the national risk assessment (NRA), legal novels in the field and our approaches to FinTech and RegTech issues. Besides the delegates saw the case that had won the best financial investigation contest at the Eurasian Group on Countering Money Laundering and Terrorist Financing (EAG) Plenary meeting in November.
With regard to interest caused by the Russian presentation, it was agreed with the MONEYVAL Secretariat that at the next session in April 2018 the presentation would be more detailed.
A special attention during the meeting was paid to mapping international FATF Standards and correspondent banking. The Chairman, D. Thelesklaf, reported on roundtables in New York and Washington, during which was represented the result of MONEYVAL systematic work to explain to financial institutions the requirements of supervision in establishing or maintaining correspondent relationships.
The participants heard reports on progress in improving the national AML/CFT systems of Bulgaria, Vatican, Hungary, Poland, Slovakia and Croatia. Despite all the measures taken to meet previously identified deficiencies, all of these countries remained on the Committee’s monitoring.
"On the margins" of the session, were held bilateral talks on topical issues of the profile cooperation with representatives of the FIUs of Armenia, Bulgaria, Jersey, Guernsey, Italy, Cyprus, Latvia, Lithuania, Liechtenstein, Moldova, Poland, Serbia, France, Montenegro and Czech Republic.