Location Strasbourg, France | Website moneyval | |
Formation 2002 (name change)
1997 (established) Chairman Mr Anton Bartolo, Malta | ||
Moneyval is the term by which, both commonly and officially, the Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism is known. Moneyval a monitoring body of the Council of Europe.
History
In 1997, the Council of Europe established the Select Committee of Experts on the Evaluation of Anti-Money Laundering Measures, carrying the official abbreviation of PC-R-EV, as a sub-committee of the European Committee on Crime Problems (CDPC, for Comité Européen pour les Problèmes Criminels). The functions of PC-R-EV were to be regulated by the general provisions of Resolution Res(2005)47 on committees and subordinate bodies.
In 2002, the name of the committee was changed to Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism, with the abbreviation Moneyval, on the grounds that "the abbreviation 'PC-R-EV' does not express the aim of the committee’s activities sufficiently clearly."
At their meeting of 13 October 2010, the Committee of Ministers adopted a resolution elevating Moneyval, from 1 January 2011, to an "independent monitoring mechanism within the Council of Europe, answerable directly to the Committee of Ministers".