Monaco Takes Part in a Training Seminar for MONEYVAL Committee Evaluators

© DR

As part of the 5^th round of evaluations of the countries that take part in the MONEYVAL Committee in charge of Anti-Money Laundering and Counter Terrorist Financing (AML/CFT), the General Secretariat of this Council of Europe Committee held a training seminar for evaluators, in conjunction with the Financial Action Task Force (FATF).

This seminar, which brought together almost sixty participants from many different countries (Estonia, Poland, Cyprus, Andorra, Guernsey, France, the United Kingdom, Liechtenstein, Israel, Jersey, Georgia, Italy, the Netherlands, etc.), as well as from the European Commission, took place from 23 to 27 April 2018 in Larnaca, Cyprus.

The aim of the meeting was to train experts to evaluate the policies implemented and the action undertaken by the various countries that belong to the MONEYVAL AML/CFT Committee.  These jurisdictions are peer reviewed.  At this week-long training seminar, representatives of Financial Intelligence Units, such as SICCFIN, as well as of Police Services and Prosecution Services (Public Prosecutor's Office) learned how to evaluate the AML/CFT policy implemented by the jurisdictions with regard to the 40 FATF Recommendations (Technical Compliance) and a series of prioritised results (the 11 Immediate Results that evaluate the effectiveness of the AML/CFT systems implemented by the various countries).

This seminar was attended by Mr. Jean-Marc Gualandi, Technical Advisor at SICCFIN and MONEYVAL expert, and was led by Ms. Lia Umans from the FATF, Mr. Michaël Stellini, Deputy Executive Secretary of the MONEYVAL Committee, Mr. Yehuda Shaffer, former Deputy Prosecutor General of Israel, Mr. M. John Ringguth, an eminent British lawyer and former member of the London Attorney General's Office at the Crown Prosecution Service and former Executive Secretary of the MONEYVAL Committee and Mr. Richard Walker, Director of Financial Crime Policy, Guernsey.

Once again this year, as in the past, to show the Principality's commitment to Combating Money Laundering and the Financing of Terrorism, SICCFIN sent one of its agents to the training courses organised by the FATF and the MONEYVAL Committee.

© DR