Outcomes of the 3rd Annual EAG Contest among Compliance Specialists of Financial Institutions for the Best Financial Analysis for AML/CFT purposes

On 1 October, in the margins of the IV International Financial Security Olympiad in Sochi (Russian Federation), the EAG held its contest among representatives of financial institutions for the best financial analysis for the purpose of combating money laundering and terrorist financing.

The Contest, which has become a tradition, takes place every year and aims to identify best practices in the detection and analysis of financial transactions related to money laundering or terrorist financing.

The Contest allows the private sector of the EAG Member States to share experiences in the examination of suspicious transactions, to develop methodologies and to improve the effectiveness of approaches to the detection and suppression of these transactions.

This year, banks from Belarus, India, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan submitted financial analysis cases for participation in the competition. The participants presented their cases to the members of the Contest Commission and the public, represented by students and teachers of the International Network Institute on the campus of Sirius University.

The Contest Commission, consisting of representatives from each EAG Member State and the EAG Secretariat, examined each case submitted and voted on the nomination for "The best financial analysis in the field of AML/CFT", selecting one winner and two laureates.

The winner of the Contest was the representative of the crypto exchange "ATAIX Eurasia Ltd" (Kazakhstan), the nominations of the contest laureates were shared by the compliance officers of the International Bank of Tajikistan (Tajikistan) and JSCB "Rysgal" (Turkmenistan).

The contest audience also voted for the case in the "Audience Award" nomination, which went to the representative of PJSC Rosbank (Russia).

According to the Rules of the Contest and following good tradition, the winner, the laureates of the Contest and the winner of the Audience Award will be awarded during the forthcoming 41st EAG Plenary Session in Indore (India) in November 2024.

The Secretariat thanks all participants of the Contest and congratulates the winner, the laureates and the winner of the Audience Award!

EAG Secretariat