The Council of Europe Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism (MONEYVAL) has published follow-up reports on North Macedonia and Romania reassessing their technical compliance with selected Financial Action Task Force (FATF) recommendations. The reviews conclude that North Macedonia has made progress in strengthening its anti-money laundering and counter-terrorist financing framework but still needs to address remaining shortcomings, while Romania has made limited progress and still needs to address moderate shortcomings. For North Macedonia, the report points to improvements linked to FATF recommendations on wire transfers, internal controls and oversight of foreign branches, and transparency of the true owners of trusts and similar legal arrangements. The country is now rated compliant or largely compliant with 31 FATF recommendations and partially compliant with nine. For Romania, MONEYVAL highlights technical compliance deficiencies affecting FATF recommendations on targeted financial sanctions, virtual assets and virtual assets service providers, and statistics, with ratings remaining at compliant or largely compliant for 25 recommendations and partially compliant for 15. Both countries remain under MONEYVAL’s enhanced follow-up procedure.
Council of Europe 2025-06-26
Council of Europe’s MONEYVAL follow-up reports find North Macedonia has progressed while Romania shows limited progress on FATF technical compliance
MONEYVAL's follow-up reports on North Macedonia and Romania assessed FATF compliance. North Macedonia progressed in wire transfers and transparency, achieving compliance or near compliance with 31 recommendations. Romania made limited progress, with deficiencies in financial sanctions and virtual assets, remaining compliant or largely compliant with 25 recommendations. Both countries remain under enhanced follow-up.