MONEYVAL Rates Armenia’s Steps Towards Implementing Global AML Standards

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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.