The EAG sings Memorandum of understanding with the Interparliamentary Assembly of Member Nations of the Commonwealth of Independent States (IPA CIS) on December 15

The MOU was signed by the EAG Chairman Oleg Markov and the IPA CIS Secretary General Mikhail Krotov.

In the framework of the MOU the parties intend to develop cooperation in AML/CFT in the Eurasian region by harmonizing the national legislation of the member states in compliance with the international standards. The EAG and the IPA CIS will collaborate in order to devise model laws and conduct information exchange. Consultations with legislators will be held with this regard. Various project teams and working groups can be formed to carry out these activities. 

The parties have also agreed to create integrated electronic databases on legislation of the EAG and the IPA CIS countries. 

The MOU is due to strengthen the organizations’ cooperation and enhance combating crime and terrorist threat in the region.

According to Pavel Livadny, co-chair of the EAG Working group on mutual evaluations and legal issues, signing of the MOU is an important step for the EAG aimed at creating effective legal AML/CFT framework in the region. “The EAG experts provide technical and consultative assistance to the member states for developing national legislation compliant with the international standards” – stressed Livadny. “In cooperation with the IPA CIS we hope to enhance this work by elaborating model laws and unifying approaches to legal regulation of the financial markets in order to mitigate ML/TF risks for the private sector”.