There is a serious need to improve the effectiveness of states’ action against money laundering and terrorist financing, the Council of Europe’s anti-money laundering and counter terrorist financing body MONEYVAL concluded in its annual report for 2020, released this month (04/06/2021).

The report found that the states and jurisdictions evaluated by MONEYVAL on average show a moderate level of effectiveness in their efforts to combat money laundering and terrorist financing.

As a consequence, on average, their level of compliance with anti-money laundering and counter terrorist financing (AML/CTF) standards is below...