Head of Rosfinmonitoring's International Cooperation Department A. Petrenko took part as Deputy Chairman of the Council of Europe Committee (MONEYVAL) in the meeting of the high-level task force created to conduct a strategic review of MONEYVAL activities, held in Paris on November 4, 2019.
The decision to conduct this review was taken at the Committee's Plenary meeting (July 2019) following the discussion initiated by the outgoing MONEYVAL Chairman D. Telesklaf. Its main goal is to strengthen MONEYVAL's position within the Council of Europe and, as a result, to deepen European leaders' understanding of the risks associated with non-compliance with the FATF standards and ensuing sanctions.
In addition to the MONEYVAL leadership (Germany, Italy, Poland and Russia), the list of the Group members includes the heads of delegations from Azerbaijan, Bosnia and Herzegovina, Jersey, Liechtenstein, Serbia, Slovakia and France.
Participants discussed the draft MONEYVAL Strategy 2020-22, prepared by the MONEYVAL Secretariat for approval by the Plenary meeting which will take place in December.
Among the document's main objectives are:
• To improve effectiveness of compliance by member-states with the FATF standards, as well as the effectiveness of other activities aimed at strengthening financial security both in Europe and throughout the world;
• To enhance the capacity and capabilities for national AML/CFT/PF personnel training;
• To increase participation in the events organized by FATF in the framework of the global system;
• To raise MONEYVAL's political status and strengthen its image;
• To strengthen the Secretariat through the infusion of additional human and financial resources.
The Group will continue its work after the adoption of its Strategy by the Committee's Plenary on December 2-8 2019.