EAG Secretariat participates in in the Joint Workshop of the CHFIU/ATC CIS/ITMCFM in Minsk

On November 21-22 in Minsk (Republic of Belarus) a two-day joint workshop "Current Trends in the Global AML/CFT System" was held for representatives of law enforcement agencies and FIUs of the CHFIU member states.

The event, organized in-person, was attended by representatives of the CHFIU Secretariat, CIS Executive Committee, CIS ATC, EAG Secretariat, ITMCFM, experts of financial intelligence units, government and law enforcement agencies and representatives of the private sector from Armenia, Azerbaijan, Belarus, Kazakhstan, Kyrgyzstan, Russia, Tajikistan and Uzbekistan.

The workshop participants considered:

• current trends in the AML/CFT system, including in the area of virtual assets;
• practices of identifying virtual assets used in illegal activities;
• specifics of terrorist financing risk assessment using Islamic financial instruments;
• experience in implementing Islamic banking in the Russian Federation.

The EAG Secretariat shared with the participants the analysis of Islamic finance issues in the global AML/CFT system. The principles of Islamic banking (in comparison with classical banking) were considered, the main tendencies of Islamic finance development in the world were demonstrated, and also the specifics of application of FATF Standards to Islamic financial instruments on the basis of experience of mutual evaluations were analyzed.

EAG Secretariat