On the results of the 24th EAG Plenary Meeting

The Eurasian Group on Combating Money Laundering and Financing of Terrorism (EAG) had its 24th Plenary meeting and meetings of Working Groups in Astana (Republic of Kazakhstan) from 06 to 10 June 2016

A. General Information on EAG Plenary Meeting

The event was attended by delegations of EAG member states: Belarus, China, India, Kazakhstan, Kyrgyzstan, Russia, Tajikistan, Turkmenistan and Uzbekistan, as well as representatives of the EAG observer states and organizations Afghanistan, France, Italy, Korea, Mongolia, Montenegro, Poland, Turkey, USA, FATF, Egmont Group, Asian Development Bank, Anti-Terrorist Center of the Commonwealth of Independent States (ATC CIS), Eurasian Development Bank (EDB), European Bank for Reconstruction and Development (EBRD), World the Organization for Security and Cooperation in Europe (OSCE ), Bank, United Nations Counter Terrorism committee (UN CTC), the UN Office on Drugs and Crime (UNODC) Shanghai Cooperation Organisation (SCO), as well as the Islamic Republic of Iran and Eurasian Economic Commission (EEC) which were invited by the Plenary.

The EAG Chairman Mr. Yuri Chikhanchin (Russia) chaired the Plenary Session.

Mr. Bakytzhan Sagintaev, First Vice Prime Minister of the Republic of Kazakhstan has addressed the EAG Plenary meeting.

B. Important Issues of the Plenary Session

The Plenary discussed the items relating to ISIL, and urged the member-states to intensify the efforts to combat the financing of the terrorist organization ISIL, as well as rapid implementation of the relevant UN Security Council Resolutions.

By the decision of the Plenary the Islamic Republic of Iran was granted status of an observer in EAG.

By the decision of the Plenary meeting, Republic of Kazakhstan and Republic of Uzbekistan were removed from the EAG follow-up process.

The Plenary has decided to optimize the working groups and adopted the EAG Budget for 2017. 

C. Cooperation with International and Regional Organizations which are EAG Partners

By the decision of the Plenary Eurasian Economic Commission (EEC) was granted the status of an observer in EAG.

D. EAG Member States AML/CFT Status

India, China, Kyrgyzstan, Russia, Tajikistan and Turkmenistan provided information on the steps taken on the development of the national AML/CFT legislation and conducting of the National Risk Assessments.

Republic of Belarus

Belarus provided information on the steps taken on the development of the national AML/CFT legislation. In the course of the 25^th EAG Plenary meeting Belarus shall provide its follow-up report in the framework of exit from EAG Monitoring procedures.

Republic of Uzbekistan

The Plenary notes the high political will of the Republic of Uzbekistan and the significant progress made by the Republic of Uzbekistan in eliminating the existing deficiencies on Key recommendation SR I, which may be rated as “Largely compliant”.

However, the analysis of the progress on the Key recommendation SR III does not allow to conclude on achievement of the level “Largely compliant”.

Considering the progress made on addressing the deficiencies on Key and Core recommendations, as well as taking into account the progress made on the majority of other recommendations, the Plenary has taken the decision to remove the Republic of Uzbekistan from the EAG follow-up process.

Republic of Kazakhstan

The Plenary notes the high political will of the Republic of Kazakhstan and the significant progress made by the Republic of Kazakhstan in eliminating the existing deficiencies on Key and Core recommendations R.1, R.5, SR.I, and SR.III which may be rated as “Largely compliant”.

However, the analysis of the progress on Key recommendation R.23 (Regulation, Supervising and monitoring) does not allow to conclude on achievement of the level “Largely compliant”.

Considering the progress made on addressing the deficiencies on Key and Core recommendations, as well as taking into account the progress made on the majority of other recommendations, the Plenary has taken the decision to remove the Republic of Kazakhstan from the EAG follow-up process.

Voluntary Tax Compliance (VTC) programs

The Plenary considered the additional information of voluntary tax compliance program in the Republic of Kazakhstan. The analysis of the program performed by the EAG Secretariat has not identified any non-compliance with the Four Basic Principles set out by FATF for national VTC programs. 

The Secretariat will continue to monitor the situation in the Republic of Kazakhstan and conduct further review if any additional information is received.

E. Other

The EAG workshop on Preparation of EAG Member States for conducting national risk assessments and mutual evaluations took place in the course of the Plenary week. In the course of the seminar the experts from Armenia, China, Liechtenstein, Russia, Council of Europe and FATF have presented their experience in this field.

The Plenary expressed gratitude to the Republic of Kazakhstan for the warm hospitality and excellent organization of the 24^th EAG Plenary Meeting and Meeting of the Working groups.

The 25^th EAG Plenary Meeting will take place in November 2016, in New Delhi, Republic of India.