30 April, 2021
The Secretariat of the Eurasian Group on Combating Money Laundering and Financing of Terrorism (EAG) together with the International Training and Methodology Center for Financial Monitoring organized and held the first remote meeting of the International Compliance Council on April 28 and 29, 2021.
The main objectives of the International Compliance Council are the exchange of experience and best practices in the application of preventive measures in the field of combating money laundering and terrorist financing (AML/CFT) by financial institutions and DNFBPs; information exchange between representatives of the private sector and supervisors and FIUs in the EAG framework; getting feedback and increasing the level of private sector involvement in reducing existing risks, identifying new risks, and researching typologies of money laundering and financing of terrorism.
Within the framework of the meeting the participants of the meeting discussed the preliminary results of the ML/TF risk assessment in the Eurasian region, as well as the issues of AML/CFT systems functioning in the context of the COVID-19 pandemic, which are relevant for the private sector.
More than 300 participants, including the representatives of both public and private sectors of the EAG member states, as well as EAG observers, registered for the event.
Sergey Teterukov, EAG Executive Secretary, Galina Bobrysheva, Deputy Director of the FIU of Russia (Rosfinmonitoring), and Jerome Beaumont, Egmont Group Executive Secretary, addressed the participants with welcoming speeches.
Representatives of the private sector of Belarus (Priorbank), Kazakhstan (Alfa-bank, Halyk Bank of Kazakhstan, ForteBank), Russia (Ak Bars Bank, YooMoney, Moscow Exchange, Bank VTB, Sberbank), Uzbekistan (Uzpromstroybank), the Financial Supervision Authority of the Republic of Poland, the People's Bank of China, as well as the EAG Regional Risk Assessment Project team leader Eugene Semenov, Administrators of the EAG Secretariat, representatives of the Rosfinmonitoring and ITMCFM made reports and presentations during the meeting.
The participants emphasized the exceptional importance of such a format of communication between international organizations and representatives of the private sector, and made suggestions for topics to be discussed at the next meetings of the International Compliance Council.
The presentations made by the speakers of the event will be posted on the EAG website in the private sector consultation section.
EAG Executive Secretary Sergey Teterukov thanked the speakers of the event for interesting and informative presentations and called all participants for further fruitful cooperation in the field of AML/CFT. In turn, the EAG Secretariat is open to official proposals from the private sector of the EAG member states on the topics for further discussions within the International Compliance Council.
The results of the meeting will be reported at the 34th EAG Plenary Meeting. The next meeting of the International Compliance Council is scheduled for October 2021.