The EAG representatives took part in the FATF Plenary meeting

From 13 to 17 February 2012 in Paris (France) the representatives of the Eurasian group will took part in the FATF Plenary and Working groups meetings.

At the FATF Plenary held from 15 to 17 February 2012 in Paris and dedicated to the approval of the new version of the FATF Recommendations, the representatives of the EAG made a statement in support of the adoption of the revised standards, expressing readiness to actively cooperate with the FATF and other FSRBs in order to introduce and implement these requirements in the Eurasian region.

The position of the Group announced in Paris is coordinated and approved by all 9 EAG member states.

In addition, the meeting approved the revised Mandate of the FATF for 2012-2020. On the agenda of the meeting there were issues of strengthening of cooperation of the FATF and the FATF-style regional bodies, international cooperation in combating money laundering and the financing of terrorism, as well as the public outreach of the Group.

Initiatives on the promotion and protection of the global financial system from the threats and risks of ML/TF were reflected in a Public statement and a document on the current situation in respect of compliance of the states with international AML/CFT standards, in which the Group identifies the jurisdictions with the strategic deficiencies.

The Plenary discussed the follow-up reports of India and China as well as of Argentina, Iceland, Turkey, Australia and the USA.

In the framework of the Plenary meeting the discussions of such problems as the fight against corruption and the financing of proliferation also were conducted. The FATF will submit the documents reflecting the work of the group in the field of countering these threats.