Armenia

New Documents

The Central Bank of Armenia notified financial institutions regarding changes to the sanctions list with regard to Iraq.

The Central Bank of Armenia issued a notice regarding updates to the sanctions list regarding the Islamic State of Iraq and the Levant and al-Qaida.

Enforcement Actions

0 Items Found


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 : 79/141
Score : 5/10

TRANSPARENCY INTERNATIONAL i

Rank : 60/180
Score : 49/100

Tax Justice Network i

Rank : N/A
Score : N/A