RA Central Bank's Center of Financial Monitoring and Rosfinmonitoring signed cooperation agreement

The Center of Financial Monitoring of RA Central Bank and the Federal Service on financial monitoring of the Russian Federation (Rosfinmonitoring) signed the first agreement of cooperation in the area of combating laundering of money received in a criminal way.

The agreement has been signed by Head of the RA CB's Center of Financial Monitoring Daniel Azatyan and Head of the Rosfinmonitoring, Chairman of the Euroasian Group on Combating Money Laundering and Financing of Terrorism (EGA) Oleg Markov.

As Chairman of RA Central Bank Tigran Sargsyan said, this is the first bilateral official agreement, being signed by RA CB's Center of Financial Monitoring. "It is a pleasure for us to sign this agreement just with the Russian party, taking into account that the financial-economic relations with Russia are of primary importance for Armenia's financial sector", he emphasized. T. Sargsyan expressed hope that signing of this agreement will, first, allow the Armenian party to get acquainted with the great experience accumulated by Rosfinmonitoring and, second, it will allow to exchange information and will enable the employees of RA CB to take the opportunities of the Training Center of Rosfinmonitoring.In addition, members of other departments and agencies, including RA parliamentarians, may undergo a training in this Training Center.

Along with it, T. Sargsyan expressed hope that this agreement will open a new page in the interrelations between the Armenian and Russian Centers of Financial Monitoring. "I hope that this agreement will create a rather serious base contributing to strengthening of our interrelations", T. Sargsyan said.

For his part, Oleg Markov, Head of Rosfinmonitoring, said the agreement is based on the standards of International Egmont Group that serves as an international network fostering improved communication and interaction among Financial Investigation Units in 120 countries, including Armenia and Russia. He said Russia and Armenia are interacting in money laundering and terrorism financing issues of mutual interest. "Particularly, 3 similar cases were completed in 2007. Another 15 are currently under investigation. We hope to continue this work also in future", O. Markov said.

He stressed that the agreement will become a basis for a full and large-scale inter-department cooperation and will raise the effectiveness of control over trans-border cash flows to combat money laundering. The agreement will considerably boost the operative information exchange between the intelligence units of the two countries and ensure legislative base for joint financial investigations. "Financial intelligence units have a great number of legislative mechanisms. This agreement allows us working closer and transferring our experience, possibilities and potential to Armenian colleagues through training and seminars at the Rosfinmonitoring Educational Center", O. Markov said.

Members of Inter-department Commission for Combating Money Laundering and Financing of Terrorism attended the ceremonial signing of the agreement. Rosfinmonitoring representatives will conduct a seminar for law-enforcement and CB specialists at the Central Bank on January 23. Federal Service for Financial Monitoring (Rosfinmonitoring) delegation arrived in Yerevan on January 21at invitation of Armenian Central Bank Financial Monitoring Center. Armenian CB press-service told ArmInfo, meetings are expected with the heads of CB and relevant services of CB as well as representatives of Prosecutor General's Office.

The source reports Oleg Markov, Head of Rosfinmonitoring, Chairman of Eurasian Group on Combating Money Laundering and Financing of Terrorism (EAG) heads the delegation. His deputy Sergey Osipov, Head of the Rosfinmonitoring Department for International Relations and Vice Chairman of CoE MANEYVAL Committee Vladimir Nechaev, as well as others are in the delegation. The visit of the delegation will over on January 24.

Source: ARMINFO