Armenia: Report on Observance of Standards and Codes-FATF Recommendations for Anti-Money Laundering and Combating the Financing of Terrorism
IMF Staff Country Reports, January 11, 2010
Source details
- Canonical URL
- Armenia: Report on Observance of Standards and Codes-FATF Recommendations for Anti-Money Laundering and Combating the Financing of Terrorism
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Bibliographic details
- Published: January 11, 2010
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451801774.002
Assessment overview
- This paper assesses observance of standards and codes on the Financial Action Task Force (FATF) recommendations for anti-money laundering and combating the financing of terrorism (AML/CFT) for Armenia.
- The assessment reveals that Armenia has made considerable improvements in its AML/CFT framework in a relatively short timeframe.
Legal and institutional developments
- Armenia replaced its first AML/CFT law, enacted in 2005, with a more comprehensive law, which was passed in 2008.
- The report finds that the money laundering offence in Armenia is criminalized broadly in line with the international standard.
Key findings
- Considerable improvements in Armenia's AML/CFT framework over a relatively short timeframe.
- Replacement of the 2005 AML/CFT law by a more comprehensive 2008 law.
- Money laundering offence criminalized broadly in line with the international standard.
Subjects and keywords (as listed)
- Subjects: Anti-money laundering and combating the financing of terrorism (AML/CFT), Crime, Legal support in revenue administration, Money laundering, Revenue administration, Terrorism, Terrorism financing
- Keywords: AML law, Anti-money laundering and combating the financing of terrorism (AML/CFT), Armenian AML, authority, CFT policy consideration, compliance supervision, CR, ISCR, law enforcement authority, Legal support in revenue administration, Money laundering, offense, predicate offense, preventive measure, Terrorism, Terrorism financing