The Council of Europe Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism (MONEYVAL) has published follow-up reports on Croatia, Monaco and Georgia assessing their compliance with the 40 Financial Action Task Force (FATF) recommendations.
In its follow-up report on Croatia, MONEYVAL finds that the country has taken numerous steps to strengthen its anti-money laundering and counter terrorist financing systems and has improved its compliance with several FAFT recommendations. As a result, Croatia is rated compliant or largely compliant with 36 FATF recommendations and partially compliant with four of them.
Regarding Georgia, in its follow-up report, MONEYVAL acknowledges that the country has improved its measures for tackling money laundering and the financing of terrorism, especially in relation to the assessment of country's anti money laundering and counter terrorist financing risks and regulation of virtual assets service providers. So far, Georgia has fully complied or largely complied with 31 FATF recommendations. It is still rated as non-compliant on a recommendation related to non-profit organisations and partially compliant on other eight recommendations.
MONEYVAL concludes that Monaco has made significant progress in complying with the FATF standards since the adoption of the mutual evaluation report in 2022. In a follow-up report, it finds the country compliant or largely compliant with 39 FATF recommendations, with only one recommendation remaining rated as "partially compliant".
Croatia and Georgia - in one year - and Monaco - in three years - are expected to report back to MONEYVAL on further progress the countries achieve in strengthening their measures against money laundering and the financing of terrorism.
