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04 October, 2019
The 5th international workshop "Public-Private Partnership as a Tool to Improve the AML/CFT System" and Consultations with the private sector, sponsored by the Eurasian Group on Combating Money Laundering and Financing of Terrorism (EAG), was held on 26-27 September 2019 in Kazan (Russia).
The workshop was sponsored by the Eurasian Group on Combating Money Laundering and Financing of Terrorism (EAG), the Federal Financial Monitoring Service, and the International Training and Methodology Centre for Financial Monitoring (ITMCFM).
Participants discussed the effectiveness of preventive measures, the quality of suspicious transaction reporting, application of targeted financial sanctions, best AML/CFT cooperation practice involving the private sector, innovative approaches and solutions to the issues of automation and the use of digital technologies for AML/CFT supervision, and international AML/CFT trends.
Welcoming remarks to the participants came from President of the Republic of Tatarstan Rustam Minnikhanov, EAG Chair Hao Jinghua, Deputy Plenipotentiary Representative of the Russian President in the Volga Federal District Igor Panshin, and Rosfinmonitoring Deputy Director Galina Bobrysheva.
Among the invited experts were representatives of the Council of Europe Committee of Experts on the Evaluation of Anti-Money Laundering Measures (MONEYVAL), South Korea's FIU, and the European Bank for Reconstruction and Development (EBRD).
The workshop was attended by more than 130 representatives of FIUs and supervisors, leading experts of the compliance departments of financial and non-financial institutions of the EAG member and observer countries, and representatives of the EAG Secretariat and ITMCFM.
EAG Chair Hao Jinghua and workshop participants underscored the great practical value of the issues addressed:
- a sectoral risk-assessment mechanism for financial institutions was developed based on the outcomes of a simulation exercise;
- the experience of Russia's Compliance Council was used to formulate proposals for creating an international Compliance Council.
The workshop ended with the issuance of Recommendations of the 5th international workshop "Public-Private Partnership as a Tool to Improve the AML/CFT System" and Consultations with the private sector.
