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Money laundering and terrorist financing: MONEYVAL publishes progress reports on Bulgaria, Cyprus and Republic of Moldova

Council of Europe

MONEYVAL
Strasbourg
19 June 2025

The Council of Europe Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism (MONEYVAL) has published this week follow-up reports on Bulgaria, Cyprus and the Republic of Moldova reassessing their technical compliance with the 40 Financial Action Task Force (FATF) recommendations.

MONEYVAL concludes that Bulgaria has improved its compliance with the FATF recommendations on targeted financial sanctions related to terrorism financing, customer due diligence, transparency and beneficial ownership of legal persons, regulation and supervision of designated non-financial businesses and professions, as well as on guidance and feedback. In its follow-up report, MONEYVAL rates Bulgaria as compliant on eight recommendations, largely compliant on 24 recommendations and partially compliant on eight recommendations.

In a follow-up report, MONEYVAL finds that Cyprus has made progress in addressing technical compliance deficiencies related to correspondent banking. It has also reported some progress on the FATF recommendation regarding non-profit organizations. Cyprus is currently rated as compliant on 16 recommendations, largely compliant on 20 recommendations and partially compliant on two recommendations.

MONEYVAL welcomes the progress achieved by the Republic of Moldova in preventing money laundering and the financing of terrorism with respect to customer due diligence measures applied by casinos, real estate agents and trust and company service providers, as well as on transparency and beneficial ownership of legal persons and legal arrangements. In its follow-up report, MONEVYAL rates the Republic of Moldova as compliant on nine recommendations, largely compliant on 28 recommendations, and partially compliant on three recommendations.

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The Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism (MONEYVAL) is a Council of Europe monitoring body and a Financial Action Task Force-Style Regional Body which assesses compliance with the main international standards to counter money laundering, the financing of terrorism and the financing of proliferation of weapons of mass destruction, as well as the effectiveness of their implementation. It comprises 35 jurisdictions, 32 of which are assessed solely by MONEYVAL.