Wednesday, January 20, 2021

Council of Europe calls on Ukraine to step up anti-money laundering efforts

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The Council of Europe finds that Ukraine has made limited progress in implementing reforms aimed at combating money laundering and terrorist financing.

This is stated in a report released on Friday by the Council of Europe’s anti-money laundering and counter-terrorist financing body MONEYVAL, according to Ukrinform’s correspondent in Strasbourg.

Related: Malta fails its first Moneyval anti-money laundering test

“[MONEYVAL] encourages the country to accelerate its efforts in addressing the remaining deficiencies in view of currently pending legislative reforms,” the Council of Europe said.

The report states that Ukraine has made limited progress in this area since the adoption of its mutual evaluation report in December 2017.

MONEYVAL decided that Ukraine should report within one year on further progress to strengthen its implementation of anti-money laundering and counter-terrorist financing measures.

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