The EAG Executive Secretary Igor Nebyvaev took part in the FATF Working Group meetings and Plenary Meeting which was held in Paris (France) on October 12-16

The FATF experts discussed their report to the G-20 focused on the analysis of the global financial crisis consequences and mitigating the damage from financial violations.

According to the G20 Leaders’ public statement, the FATF should prioritize its activities on helping detect and deter the proceeds of corruption by prioritizing work to strengthen standards on customer due diligence, beneficial ownership and transparency. 

The participants of the FATF Plenary meeting discussed the mutual evaluation reports of Aruba and New Zealand and follow-up reports of Switzerland and the UK. 

They also adopted the WGEI recommendations on the risk-based approach for the Life Insurance Sector and typologies research results for money laundering and terrorist financing risks in the Securities Sector. 

The Republic of Korea was welcomed as a full member of the FATF which is aimed at enhancing the presence of FATF policy in the Asian region.