Armenia: Report on Observance of Standards and Codes-FATF Recommendations for Anti-Money Laundering and Combating the Financing of Terrorism
January 11, 2010
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This paper assesses observance of standards and codes on the Financial Action Task Force (FATF) recommendations for antimoney 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, particularly by replacing the first AML/CFT law, enacted in 2005, with a more comprehensive law, which was passed in 2008. It is also found that the money laundering offence in Armenia is criminalized broadly in line with the international standard.
Subject: 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
Pages:
15
Volume:
2010
DOI:
Issue:
008
Series:
Country Report No. 2010/008
Stock No:
1ARMEA2010001
ISBN:
9781451801774
ISSN:
1934-7685
