Georgia's progress in strengthening measures to tackle money laundering and terrorist financing

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English

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Overall, Georgia has made progress in addressing the technical compliance shortcomings identified in its 2020 Mutual Evaluation Report. Notably, the amendments introduced by Georgia in 2023 to its anti-money laundering legislation have fully addressed the deficiencies previously identified regarding measures applicable to politically exposed persons.

As a result, the country has been re-rated on one Recommendation:

Recommendation 12 from Partially Compliant to Compliant

The country asked for a number of re-ratings for other Recommendations 1, 6, 7, 15, 22, 23, 28 and 35, which were also analysed but no re-rating has been provided.

Of the 40 recommendations, Georgia is currently rated:

Compliant on 7 Recommendations
Largely Compliant on 22
Partially Compliant on 10, and
Non-Compliant on 1

Georgia is expected to report back in December 2024 to MONEYVAL on further progress made towards strengthening its anti-money laundering and terrorist financing system.

MONEYVAL - Follow-up report Georgia 2023

Filename: Georgia-MONEYVAL-FUR-2024.pdf
Size: 973 KB
Format: application/pdf

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Earlier Reports

1 Dec 2022

Georgia's progress in strengthening measures to tackle money laundering and terrorist financing This follow-up report sets out the progress that Georgia has made in improving its level of compliance with the FATF standards, since their 2020 mutual evaluation.
4 Nov 2020

Georgia's measures to combat money laundering and terrorist financing This report summarises the AML/CFT measures in place in Georgia as at the date of the onsite visit to the country from 4-15 November 2019. It analyses the level of compliance with the FATF 40 Recommendations and the level of effectiveness of the AML/CFT system, and recommends how the system could be strengthened.

Related materials

MONEYVAL

The FATF Recommendations

The FATF Recommendations are the basis on which all countries should meet the shared objective of tackling money laundering, terrorist financing and the financing of proliferation. The FATF calls upon all countries to effectively implement these measures in their national systems.

Mutual Evaluations

The FATF conducts peer reviews of each member on an ongoing basis to assess levels of implementation of the FATF Recommendations, providing an in-depth description and analysis of each country’s system for preventing criminal abuse of the financial system

Read more Consolidated assessment ratings