MONEYVAL Rates Armenia’s Steps Towards Implementing Global AML Standards

The Council of Europe's MONEYVAL advisory group has received updates in Armenia's tax evasion administration in regards to risk evaluation, fixing financial agreements, PEPs monitoring, the control of non-monetary businesses, and legal implementation powers.

Be as it may, MONEYVAL still observes shortcomings in Armenia's AML legislation, internal controls, external branches; tipping-off and classification laws. Armenia will stay in the category of normal follow-up measures, and will report again in 2021.