CoE: Hungary has made improvements in fighting money laundering, terrorist financing

Hungary has improved measures to combat money laundering and terrorist financing, with positive steps taken by the authorities resulting in an upgrade of Hungary from “partially compliant” to “largely compliant”, Moneyval, the Council of Europe's expert body against money laundering, said in a report released in Strasbourg on Wednesday. Moneyval said that its review had focused on Hungary’s enhanced due diligence requirements for correspondent banking relationships, obligations for financial groups and companies register.