The Eurasian Group on Combating Money Laundering and Financing of Terrorism (EAG)



 

 
 
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EAG events

  • Inter-sessional WGEL/WGTA meeting was convoked in Moscow on 5-7 of March 2014
  • Assessors training of the FATF / EAG / MONEYVAL / MENAFATF
  • The 20th EAG Plenary meeting in Moscow (Russian Federation)
  • The 20th EAG Plenary Meeting Public Statement
  • The 21st EAG Plenary week in Dushanbe, Tajikistan, November 10-14, 2014
  • EAG evaluators training has been held on October 6-11, 2014 in New Delhi, India
  • Public Document: outcomes of the scientific and practical conference dedicated to the 10th anniversary of the EAG
  • The 21st EAG Plenary Meeting Public Statement
  • Joint EAG/MENAFATF Seminar on Typologies and Capacity Building
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    EAG events

    The EAG Secretariat official press announcement for the 20th EAG Plenary week

    On May 19-20, 2014 Moscow hosted the 20th Anniversary Plenary meeting of the Eurasian Group on Combating Money Laundering and Financing of Terrorism (EAG).

    The Plenary was chaired by the EAG Chairman Dr. K P. Krishnan (India), was attended by Mr. Yury Chikhanchin, Director of Rosfinmonitoring; Mr. Vladimir Nechaev, the FATF President; Mr. Li Dongrong, Deputy Chairman of the Peoples Bank of China; Mr. Andrey Novikov, Head of the Commonwealth of Independent States Anti-Terrorist Center; Mr. Zhang Xinfen, Director of the Executive Committee of Shanghai Cooperation Organization Regional Anti-Terrorist Structure (RATS); representatives of the EAG Member States: Belarus, India, China, Kazakhstan, Kyrgyzstan, Russia, Tajikistan, Turkmenistan and Uzbekistan; as well as experts from other respective States and International Organizations with observer status in the EAG.

    The meeting was focused on the monitoring processes following the completion of the first round and preparations for the second round of Mutual Evaluations of national anti-money laundering systems of the EAG Member States. Follow-up reports of national anti-money laundering and combating the financing of terrorism (AML/CFT) systems were presented by Kazakhstan and Kyrgyzstan. The Plenary also considered extended follow-up reports of Belarus and Tajikistan under the EAG procedures of removal from monitoring.

    During the Plenary participants discussed the issue of capital amnesty programs in the Eurasian region, the impact on the status and effectiveness of the national AML/CFT systems and the prospects of monitoring these processes by the EAG. In addition, the participants also discussed cooperation between the EAG and its partners from the RATS SCO, ATC CIS, UN Counter-Terrorism Committee and The Council of Heads of Financial Intelligence Units of CIS.

    The Plenary meeting was preceded by expert meetings and consultative sessions for the EAG Member States representatives and private sector. In particular, the Consultative Forum "Risk-based Approach to New Payment Methods" for the EAG region private sector took place on June, 16.

    The Plenary meeting was organized with the assistance of the International Training and Methodology Center for Financial Monitoring (Russia) and with participation of the FATF President, the EAG Secretariat, Rosfinmonitoring and Russian E-Money Association. A list of Forum participants also included representatives of regulatory and supervisory bodies, associations and major financial institutions of the EAG respective Member States and Observers.

    About the EAG: The Eurasian Group on Combating Money Laundering and Financing of Terrorism (EAG) is a FATF-style regional body comprising 9 countries: Belarus, India, Kazakhstan, China, Kyrgyzstan, Russia, Tajikistan, Turkmenistan and Uzbekistan. The EAG is an associate member of the FATF.

    About the FATF: FATF stands for the Financial Action Task Force on Money Laundering Established in 1989 by the G7, the FATF is an intergovernmental organization created to develop and implement collective measures aimed at combating money laundering and terrorist financing.

    Among FATF members there are 34 countries and 2 international organizations.

    The FATF main tool is 40 Recommendations on combating money laundering and 9 Special Recommendations on countering the financing of terrorism, adopted in the aftermath of September 11, 2001. The revised FATF 40 Recommendations were adopted in February 2012. Compliance with these standards allows countries to establish effective AML/CFT systems and safeguard the national economy against illicit capital flows. In June 2013, Russia assumed the FATF Presidency with the election of Vladimir Nechaev as FATF President.

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