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Third Annual EAG Contest among financial institutions of the Member States for the best AML/CFT financial analysis

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Third Annual EAG Contest among financial institutions of the Member States for the best AML/CFT financial analysis
 

  • 23 July, 2024

    The EAG Secretariat has announced the Third Annual Contest for the best AML/CFT financial analysis among compliance officers of financial institutions of the Member States of the Eurasian Group on Combating Money Laundering and Financing of Terrorism (EAG).

    The objective of the Contest is to share experience and best practices for improving effectiveness of national AML/CFT systems and efficiency of international AML/CFT cooperation among private sector. The Contest enables to create the library of the best examples which will help to enhance the regional AML/CFT cooperation capabilities and serves as the forum for demonstrating practical examples of identifying ML/TF schemes, which could be used for education and training of the national AML/CFT system staff of EAG Member States.

    The best practical cases of financial analysis in (but not limited to) the following areas carried out by financial institutions will be accepted for the Contest:

    1. Detection of suspicious customer activities related to drug trafficking, corruption, illegal financial activities and illegal gambling (including online casinos), misuse of budgetary funds.
    2. Application of technological solutions and new methodologies to detect suspicious transactions related to the turnover of virtual assets.
    3. Identifying the other transactions or activities of customers related to money laundering or terrorist financing.

    The Contest is held in accordance with the «Regulation on the EAG contest among financial institutions of Member States for the best AML/CFT financial analysis».

    Final of the Contest will be held in early October 2024 in Sochi (Russian Federation) in the margins of the IV International Financial Security Olympiad at the «Sirius» federal territory. The award ceremony of the Contest winner and laureates and the winner of the "Audience Award" nomination will take place in November, 2024 on the margins of the 41st EAG Plenary Meeting.

    EAG Secretariat