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Interaction with supervisory bodies and the private sector

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Interaction with supervisory bodies and the private sector

The International Compliance Council (ICC), established under the auspices of the EAG, is an expert platform for the exchange of experience in the field of AML/CFT and information interaction of the private sector with supervisory authorities, as well as FIUs. The Council brings together specialists from EAG Member States, as well as representatives of the private sector. For more details on the structure and documents of the ICC, see the section “International Compliance Council”.

The EAG conducts consultations with private sector institutions of the region in matters pertaining to the practical application of the international AML/CFT standards (the FATF’s Recommendations).

Trends in the development of international and regional AML/CFT systems, key risks and ways used to mitigate them are analyzed during the consultations. The results of the typologies research conducted by the EAG’s experts are discussed.

Consultative forums are a dialogue between supervisory bodies and private sector institutions. Based on the conclusions drawn at the meetings, practical recommendations are devised in order to minimize the risks that financial and non-financial institutions may get involved in criminal schemes, as well as make oversight in the sphere of AML/CFT more efficient.

Past consultations with the private sector:

October 14-15, 2021 VII EAG/ITMCFM International Supervision Forum "Tools and Mechanisms of Risk-Based Approach in AML/CFT Supervision"

September 29-30, 2020 VI International EAG/ITMCFM Forum on the Functioning of the AML/CFT System in the Challenging Epidemiological Situation and Consultations with the Private Sector 

September 26-27, 2019 V International Seminar "Public-Private Partnership as a Tool to Increase the Efficiency of the AML/CFT System" and Consultations with the Private Sector

September 13-14, 2018 IV Workshop “Effective Supervision as a Mechanism for Ensuring the Non-Financial Businesses and Professions' Involvement in AML/CFT System”

September 20-21, 2017 III Workshop “Effective Supervision as a Mechanism to Ensure Financial System Transparency and Stability"

December 12-13, 2016 II Workshop “Effective Supervision as a Mechanism to Ensure Financial System Transparency and Stability"