Outcomes of the 40th EAG Plenary meeting

1. General information about the EAG Plenary Meeting

The meetings of the EAG Working Groups and the 40^th Plenary Meeting of the Eurasian Group on Combating Money Laundering and Financing of Terrorism (EAG) were held in Bishkek (Kyrgyz Republic) on May 27-31, 2024. The meetings were attended by the representatives of all EAG Member States, the FATF and MENAFATF Secretariats as well as the following observers and invited delegations: Armenia, Iran, Mongolia, Serbia, USA, ADB, BCBOP, CHFIU, CIS ATC, CIS Executive Committee, CSTO, EDB, EBRD, EEC, OSCE, SCO, UNODC, UNOCT, Azerbaijan, Japan and UAE.

The Plenary was chaired by the EAG Chairman Mr. Yury Chikhanchin (Russian Federation) and the EAG Deputy Chairman Mr. Shamsiddin Sohibnazarov (Republic of Uzbekistan).

The welcoming speech to the Plenary on behalf of the Kyrgyz Republic was made by the Chairman of the Cabinet of Ministers - Head of the Presidential Administration Mr. Akylbek Zhaparov.

2. Key issues and the most important decisions of the Plenary Meeting

The Plenary discussed and adopted the Republic of Tajikistan's 5th Enhanced Follow-Up Report with re-rating, which will be published on the EAG website after passing the post plenary quality and consistency procedure of the FATF Global network. Also, the Plenary heard and adopted the Turkmenistan’s 1st Enhanced Follow-up report without re-rating.

The Plenary approved the EAG Procedures for conducting the third round of mutual evaluations of the national AML/CFT/CPF systems of the EAG Member States and monitoring their progress, as well as the sequencing of mutual evaluations of the countries within the 3rd round. The approval of these documents allows to start practical engagement with the countries that will be evaluated first in the upcoming new round. Member States commit themselves to start preparations for a new round of EAG mutual evaluations.

The Plenary received information on the implementation of the voluntary tax compliance program of the Kyrgyz Republic and on measures taken to prevent the program from being used for criminal purposes. Also, the Plenary was informed about the extension of the voluntary tax compliance program of the Republic of Tajikistan until the end of 2024.

The concept note and the questionnaire of the project to develop an information bulletin covering the information on the activities of terrorist groups in the region as well as the ways and methods of financing their activities, considering the development of modern payment technologies was approved by the Plenary Meeting. The project will be conducted jointly with the Anti-Terrorism Centre of the Commonwealth of Independent States (CIS ATC). It is planned that the results of the project will have practical application both in the operational sphere of counter-terrorism and financial intelligence units and in mutual assessments of EAG Member States in terms of providing an understanding of TF risks at the national level (Immediate Outcome 1), as well as identifying the specific role of individuals and organisations involved in terrorist activities (Immediate Outcome 9).

The Plenary heard information on the implementation of the Plan (roadmap) to minimize regional ML/TF risks in the Eurasian region and approved Criteria for identifying suspicious money recovery lawsuits for the purpose of money laundering and the draft unified form of feedback on international requests between FIUs of the EAG Member States and a form for bilateral reconciliation. The development of criteria of the suspicious character of the money recovery lawsuits is aimed at counteracting the use of mechanisms of judicial procedures for laundering criminal proceeds and will allow representatives of the justice authorities of the Member States to identify possible elements of such unlawful actions and respond to them in a timely manner. Adoption of draft unified forms of feedback between FIUs of the Member States on international requests and bilateral forms of reconciliation is aimed at strengthening the mutual exchange of information between FIUs of the Member States on the results of bilateral cooperation and the most complete implementation of the relevant FATF Standards.

The Plenary approved the concept note of the project for regional assessment of the proportionality and dissuasiveness and effectiveness of sanctions applied to legal entities in the EAG Member States. The aim of the Project is to assist EAG Member States in the effective implementation of the requirements of FATF Recommendations 3 and 24 and achieving effectiveness under Immediate Outcomes 5 and 7 in terms of the application of proportionate and dissuasive and effective liability measures for legal entities.

The Plenary Meeting approved the organisation of the joint EAG and the CIS CCPG forum for prosecutors on AML/CFT/CPF issues in the 4th quarter of 2024 in Minsk of the Republic of Belarus as well as the main aspects and the concept of the forum.

The Plenary approved the EAG Budget for 2025 and the EAG work plan for 2024-2025.

3. Other issues

The Plenary meeting granted Japan the EAG observer status. The Plenary noted the importance of engagement with Japan and expressed hope for fruitful cooperation.

The Plenary approved the Regulation on the use of Single Technical Assistance Coordination Information System (STACS), and was also briefed on the progress of the exploitation by the Member States, development partners and the Secretariat of the STACS and proposals for its further development. The Member States noted the user-friendly features of the STACS, which is aimed at improving TA coordination in the EAG to enhance the effectiveness of its Member States' national AML/CFT/CPF systems, their compliance with the FATF Standards and increasing productivity when implementing TA projects. The system was developed with the financial support of EDB.

The Plenary heard the Kyrgyz Republic's and the People’s Republic of China's best practices on the national experience in the AML/CFT/CPF as well as the Republic of Uzbekistan’s best practices on reforms in the anti-money laundering system of in the context of combating the informal economy and the Republic of Kazakhstan on the operation of the Financial Monitoring Academy (AML ACADEMY).

The Plenary approved the updated Plan for TA to the Republic of Kazakhstan in the context of activities based on the outcomes of mutual evaluation. The Plan is aimed at improving national AML/CFT/CPF system in areas such as legislation compliance with FATF recommendations and strengthening the expert capacity of national competent authorities. The EAG invites Member States and observers who want to implement the Plan to cooperate as donors and providers.

Reports on the implementation of TA coordination projects in the Republic of Belarus, the Kyrgyz Republic, the Republic of Tajikistan, the Republic of Uzbekistan and Turkmenistan were also heard at the Plenary Meeting. The role of ITMCFM as a leading donor and provider in the implementation of TA project plans for EAG Member States was emphasized.

The Plenary heard interventions of the observers, thanked for the experience presented and expressed the hope for further cooperation. The Plenary and Working Groups were informed about Iranian measures in AML/CFT area and their updates regarding laws and regulations in line with international standards, especially supervisory measures.

In the margins of the 40^th EAG Plenary Meeting, the III^rd Forum of Parliamentarians of the EAG Member States was held, which brought together representatives of legislative and executive authorities of the Eurasian region and international organisations to discuss issues related to mitigating ML/TF risks associated with innovation, new technologies and virtual assets. The Forum participants adopted the Declaration of outcome reflecting the willingness of parliamentarians to join efforts at international level to combat predicate offences committed through the use of new technologies.

The Plenary welcomed the outcomes of the International Scientific and Practical Forum (24-26 April, Nizhniy Novgorod, Russian Federation) as well as the workshop on the updated FATF Standards that was hosted within the 40^th Plenary Week.

The Plenary approved the establishment of the Association of Press Services of Financial Intelligence Units of the EAG Member States as well as the Concept of activities of the Association, which is aimed at deepening media interaction between the FIUs of the EAG Member States, creating a common information space and increasing the recognition of the Eurasian Group in the international arena.

The Plenary was briefed on the implementation of the International Financial Security Movement initiative, the preparation for the 4th International Financial Security Olympiad, which will take place from 30 September to 4 October 2024 on the "Sirius" Federal Territory at the initiative of the Russian Federation, which provides the organisation and coordination of the participants of the Olympiad, and its financing, and the International Financial Security Forum "Sirius-2024". The Plenum expressed its support for the development of the International Financial Security movement.

The Plenary expressed gratitude to the Kyrgyz Republic for hosting the 40^th EAG Plenary Meeting and working group meetings, as well as for the high level of organization.

The 41^st EAG Plenary Meeting will be held in the Republic of India from 25 to 29 November 2024.

EAG Secretariat