Council of Europe Report: Money laundering and terrorism financing trends in MONEYVAL jurisdictions during the COVID-19 crisis

The report contains information on pandemic-related typologies and notes that most countries reported that due to pandemic and remote working FI and DNFBP supervisors experienced challenges in conducting on-site supervisions. Onsite controls have been postposed, the authorities favouring off-site and desk-based reviews. The supervisors’ efforts have been placed in ensuring that the off-site supervisory activities are maintained and, when possible, reinforced.

For sensitive information, such as client file reviews, the authorities have opted to either receive client files through a secure cloud portal or other electronic means or reviewing these documents remotely e.g. through the shared screen facility offered by video conferencing.

 

https://rm.coe.int/moneyval-2020-18rev-covid19/16809f66c3

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