Armenia

New Documents

Armenia Regulator Highlights FATF Public Statements

The Financial Monitoring Centre of Armenia called attention to the Financial Action Task Force’s March 4, 2020 public statement on jurisdictions with strategic anti-money laundering deficiencies and those with deficiencies but that have developed an action plan to remedy those shortcomings.

May 27, 2022

EU, Armenia Discuss Efforts to Implement Enhanced Partnership Agreement

Delegates from the European Union and Armenia issued a joint statement following the fourth meeting of the EU-Armenia Partnership Council on the implementation of the Comprehensive and Enhanced Partnership Agreement which entered into force in March 2021.  

May 19, 2022

Armenia Central Bank: Digital Transformation is a Key Priority

April 28, 2022

Armenia Central Bank Hosts AML/CTF Trainings for Non-Financial Institutions

March 19, 2022

Basel Institute Partners with Armenia on Asset Recovery

January 20, 2022

News

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

Draft bill would impose AML rules on U.S. attorneys and accountants, COVID-19 pandemic exposes lenders to fraud, and more, in the weekly roundup.

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

Weekly Roundup: US Senate Endorses Lifting Sanctions Against 3 Russian Firms, Malaysia Wants $7.5 Billion from Goldman Sachs, and More

January 18, 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