The Russian delegation, led by Deputy Director of Rosfinmonitoring V. Glotov and comprising representatives of the Russian Foreign and Interior Ministries and the Bank of Russia, took part in the Plenary meeting of the Committee of Experts on the Evaluation of Anti-Money Laundering Measures and Financing of Terrorism (MONEYVAL), held on 2-6 December 2019 in Strasbourg.
Participants elected new members of the Committee's governing body. Elzbieta Frankow-Jaskiewicz (Poland) was elected as a new Chairman and A. Petrenko (Rosfinmonitoring) and R. Walker (Guernsey) - as her Deputies. In addition, MONEYVAL Strategy 2020-2022 was adopted. The main concern that led to the necessity of revision of the Committee's status, focus areas and working methods was its poor positioning within the Council of Europe structures and, as a result, the lack of understanding by some European leaders of the risks associated with non-compliance with the FATF standards and possible identification of jurisdictions with weak measures to combat money laundering and terrorist financing (AML/CFT), as well as jurisdictions which have strategic AML/CFT deficiencies for which an action plan has been developed.
In addition to the MONEYVAL leadership (Germany, Italy, Poland and Russia), the High-level Task Force, which will develop a strategy implementation plan, includes Heads of delegation of Azerbaijan, Bosnia and Herzegovina, Jersey, Liechtenstein, Serbia, Slovakia and France.
The report on the effectiveness of Russia's AML/CFT system, adopted by the FATF Plenary meeting in October, was read and approved.
Expert of Rosfinmonitoring I. Yakovlev (CFTD) invited by MONEYVAL President delivered a presentation on best practices in detecting TF schemes with the use of e-wallets. Commenting on the presentation, the participants endorsed the Egmont Group's decision to award a special diploma to the Russian Federation for the submitted case study.
The evaluation reports on the effectiveness of the AML/CFT systems of Gibraltar and Cyprus were considered. As a result, the two countries were preliminarily placed in the enhanced follow-up process.
Following the progress reports of Albania, Andorra, Bosnia and Herzegovina, Hungary, Latvia, Isle of Man, Romania, Serbia, Slovenia and Montenegro, it was decided to continue to hear the countries' reports on measures taken to rectify the outstanding shortcomings at the next Plenary meetings.
The Russian delegation held working meetings with the FATF Vice President and FATF, MONEYVAL and EAG Secretariats, as well as discussed specific financial investigations with the heads of the financial intelligence units of Azerbaijan, Cyprus, Latvia, Poland, Serbia, Slovakia, France, Switzerland and Estonia.
The Committee's next regular Plenary meeting is scheduled to take place in Strasbourg in early July 2020.