The Financial Intelligence Analysis Unit (FIAU) would like to inform subject persons that the Council of Europe’s anti-money laundering and counter-terrorist financing monitoring body, MONEYVAL has published a new typologies report entitled, ‘Money Laundering, Terrorism Financing and Proliferation Financing Risks and Trends Linked to Proceeds Obtained from Conflicts’.
This report examines how illegal proceeds which arise from regions affected by armed conflicts are laundered and used to finance terrorism and the proliferation of weapons of mass destruction. The report also identifies relevant patterns, trends, and vulnerabilities to strengthen the fight against money laundering, terrorism financing, and proliferation, whilst enhancing international co-operation.
The report highlights how weakened state control and destabilised markets in conflict areas lead to environments susceptible to complex, interconnected criminal economies, where illicit proceeds are generated, laundered and reinvested in ways that promote violence and further destabilisation.
The report also explains how conflict areas enable criminals to exploit vulnerabilities in financial and regulatory systems by using complex schemes such as shell companies, third-country intermediaries, and virtual assets to conceal the illicit origin, movement and purpose of funds.
Interested parties may access the publication directly from MONEYVAL’s website or from the FIAU’s website under the tab “MONEYVAL”.