Armenia

New Documents

GRECO Urges Armenia to Intensify Anti-Corruption Efforts

The Council of Europe’s Group of States against Corruption released an evaluation report finding that Armenia needs to enhance its measures against corruption among top executive officials and law enforcement officers.

April 19, 2024

OECD Identifies Progress, Challenges in Efforts by Four Countries to Combat Corruption

The Organisation for Economic Cooperation and Development released four Baseline Reports on anti-corruption reforms undertaken by Azerbaijan, Armenia, Moldova, and Ukraine.

March 15, 2024

Armenia FMC Shares AML/CTF Supervision Activities in 2022 Annual Report

September 12, 2023

Armenia Regulator Highlights FATF Public Statements

May 27, 2022

EU, Armenia Discuss Efforts to Implement Enhanced Partnership Agreement

May 19, 2022

News

Weekly Roundup: Bipartisan Bill Would Delay Beneficial Ownership Rule, US Regulators Target Encrypted Communications, and More

Blacklisted oligarchs finance Russian army recruitment, U.K. chancellor wants account closure review, and more, in the midweek roundup.

August 4, 2023

Weekly Roundup: Former US Sanctions Chief to Head Facebook Cryptocurrency, EU Pitches New AML Blacklist, and More

Irish lender de-risks cryptocurrency firm over regulatory concerns, EU advances plans for single AML supervisor, and more, in the weekly roundup.

May 8, 2020

Weekly Roundup: Indian Islamist Accused of Laundering After Violating COVID-19 Restrictions, EY Compliance Whistleblower Wins Damages, and More

April 17, 2020

Midweek Roundup: US Lawmakers Pitch New Beneficial Ownership Bill, Swedish Lender Assesses Ties to Danske Bank, and More

February 21, 2019

Weekly Roundup: SARs on Elder Abuse Fraud Reach Record High, New Leaks Website Plans Disclosures on Russian Bankers and Politicians, and More

January 25, 2019

Enforcement Actions

0 Items Found

Key Documents

Armenia Revises AML/CTF Legislation

June 21, 2008

Armenia's Central Bank Updates Minimal AML/CTF Requirements

July 24, 2012

Armenian Regulator Issues Guidance on AML Risk-Based Approach

November 25, 2008

Armenian Regulator Provides Guidance to Help Identify Suspicious Transactions

September 3, 2008

Armenian Regulator Approves Rule on Cross-Border Transportation of Currency

August 8, 2005

Armenian Central Bank Approves Form for Declaration of Beneficial Owner

February 4, 2009

Important Facts

The U.S. State Department labels Armenia as a major money laundering jurisdiction. It is located on a trade route between narcotics source countries and European and Russian markets. Corruption, smuggling, the real estate sector, significant inflows of remittances from other countries, the shadow economy and the widespread use of cash are major money laundering vulnerabilities. Some anti-money laundering efforts are hindered by the fact that legal persons are not subject to criminal penalties for money laundering. Armenia has know-your-customer requirements and suspicious transaction requirements. In addition, it maintains enhanced due diligence rules for politically exposed persons.

-Source: 2021 International Narcotics Control Strategy Report (INCSR)

Rankings

FATF i | 2013 Methodology

Technical	Effectiveness
Compliant : 19	High : 0
Largely Compliant : 18	Substantial : 6
Partially Compliant : 3	Moderate : 3
Non-Compliant : 0	Low : 2

Armenia's technical compliance was re-rated in a follow-up report on Sept. 7, 2018.

BASEL i

Rank : 31/110

Score : 4.63/10

TRANSPARENCY INTERNATIONAL i

Rank : 60/180

Score : 49/100

Tax Justice Network i

Rank : N/A

Score : N/A