Armenia: Report on Observance of Standards and Codes-FATF Recommendations for Anti-Money Laundering and Combating the Financing of Terrorism

International Monetary Fund

No 2010/008, IMF Staff Country Reports from International Monetary Fund

Abstract: 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.

Keywords: ISCR; CR; authority; offense; Armenian AML; compliance supervision; CFT policy consideration; AML law; predicate offense; law enforcement authority; preventive measure; Anti-money laundering and combating the financing of terrorism (AML/CFT); Money laundering; Legal support in revenue administration; Terrorism financing; Terrorism (search for similar items in EconPapers)
Pages: 15
Date: 2010-01-11
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