№14 (AUGUST 2012) EAG BULLETIN CHAIRMAN’S COLUMN EAG 16th Plenary Meeting: Members of the FATF Global Network Events and Results Meet in Rome Page 2 The Eurasian Group’s on 2012, during which the issue requirements for politically combating money laundering of removing Turkmenistan exposed persons (PEPs) Financial Intelligence and financing of terrorism from the enhanced monitor- and fight with corruption. Units Anniversary Summit th (EAG) 16 Plenary meeting ing procedure was to be dis- A representative from in Saint Petersburg was held from May 22 to 25, cussed. The country showed the Middle East and North Page 3 2012, in Moscow (Russia). that the majority of steps Africa Financial Action Task stipulated in its Action plan The main goal of the Force (MENAFATF) took Results of the EAG EAG is to provide effective have been fulfilled, whilst also part in the Plenary and cooperation on regional demonstrating significant shared regional AML/CFT Consultative Forum level as well as integration progress in developing its experience and techniques Dedicated to the Revision of of EAG member states anti-laundering law. Once and also talked about the FATF Recommendations Dear colleagues! into international AML/CFT the report was heard, it current initiatives. The EAG was clear to participants Page 4 Past months were full system in compliance with Secretariat expressed hope that Turkmenistan should of events, which not only the FATF Recommendations that the fruitful cooperation be removed from the FATF The EAG Secretariat pre- strengthened the EAG position and anti money laundering between the Eurasian “grey” list. sented information on issues in the global AML/CFT system, standards of other Group and the MENAFATF of effectiveness of EAG mem- but also laid a basis for international organizations. France, Mongolia and the in conducting mutual ber state AML/CFT systems. realization of goals and tasks “EAG member states are Egmont Group were also evaluations and typologies of the group in the second half refining the institutional and welcomed as the new group research will continue to Following a decision at of this year. legal basis for combating observers during the Plenary develop further. the Plenary, a new working First of all, it is about the work on clarification of the changes in the FATF Recommendations. The Russian translation of the 40 Recommendations was presented at the EAG Consultative Forum, which was held in May this year. The similarly named electronic product, which allows for the participants of the AML/CFT system and wide public to get acquainted with the novelties in the FATF standards, was launched on the EAG web-site. Conducting typologies research and workshops in the line of the FATF and FSRBs made progress. The results of this work done by the group will be presented at the 17th Plenary meeting in India. It is planned to hold a joint workshop with the MONEYVAL on clarification of the new FATF standards this money laundering and fi- meeting. “The participation In light of the revised group was set up to combat autumn. nancing of terrorism, their fi- of France, Mongolia and the FATF Recommendations, financing of drug trafficking, Extension of the international nancial intelligence units are Egmont Group in the EAG’s one of the tasks the EAG crime and terrorism. The cooperation is one of priorities fully operational, the influ- work will bring positive currently faces is to work on group’s mandate, co-chairs for the Eurasian group. We ence and authority of which results both for the Eurasian clarifying and implementing from Russia, the Kyrgyz welcome Mongolia, France continues to grow. This has Group and each individual them on a national level, Republic and Belarus, as and the Egmont group as new only been made possible country, while the role and with the help of the modern well as the Action plan for the EAG observers, and hope for thanks to our work and at- participation of observers technology. To this end, the second half of 2012 were all their active participation in the mosphere of joint under- in the EAG’s work on the International Training and approved. activities of the group. standing and partnership,” whole will become even Methodology Centre for Fi- The latest round of EAG Consolidation of efforts on Chairman of the Eurasian more important”, the EAG nancial Monitoring (Russia) Consultations with the private national and regional grounds Group Yu. Chikhanchin said Chairman said. developed and demonstrat- sector and a meeting of creates a basis for long-term in his welcome message to The Plenary approved ed its interactive electronic the regional FATF “Europe- interaction of the FSRBs. participants of the Plenary the Action plan of the EAG product on the updated Eurasia” Subgroup of the Moreover, this work encourages meeting. Chairman Yury Chikchanchin FATF Recommendations at International Cooperation effective implementation of Progress reports of EAG for 2011-2012. the Plenary and the EAG Review Group (EERRG the 40 Recommendations into member states were one Consultations with private ICRG FATF) was held the The FATF Secretariat sector. The E-product is national AML/CFT regimes of main agendas of the informed the meeting’s day before the Plenary. of the member states, which meeting. In particular, available both in English participants about current and Russian on the EAG In addition, the tenure of is important in the light of information on eliminating initiatives to develop methods the EAG’s Acting Executive preparation to the 4th round of strategic deficiencies in the and the ITMCFM official to evaluate the compliance web-sites. Secretary Boris Toropov the FATF’s and the 2nd round national AML/CFT systems of national AML/CFT (Russia) was extended until of the EAG mutual evaluations. of the Kyrgyz Republic, the systems with FATF re- A number of bilateral the 17th Plenary meeting. Republic of Tajikistan and cooperation agreements quirements, the creation of Kazakhstan, Russia and Turkmenistan was presented. working groups to coordinate were signed between Yury Chikhanchin financial intelligence units Tajikistan representatives The report from the latter the FATF global network, in the EAG Secretariat took EAG Chairman country was of particular the development of the (FIUs) of EAG member states at events held as part of the part for the first time at the importance given the FATF FATF guidance to new and Plenary meeting. Plenary meeting in June mobile payment systems, Plenary week. 2 Members of the FATF Global Network Meet in Rome Working group biannual monitoring regime. Russia Turkmenistan successfully implementation of the revised 40 meetings and the FATF must then present a final and managed this task and was Recommendations at a global level in Plenary meeting took comprehensive report at the Plenary therefore transferred to standard a statement summarizing the results place in Rome (Italy) meeting in Oslo in next June. monitoring procedures. As indicated of the Plenary meeting in Rome. between June 18 Turkmenistan was removed from in the FATF final Plenary documents On the sidelines of the Plenary the and 22. the “grey” list during the FATF Turkmenistan will continu e to further incumbent president, president-elect Representatives of Plenary week. One may treat it as an improve its national AMT/CFT system and vice president met with FSRBs’ FATF member states acknowledgement of the significant under the Eurasian Group’s control heads, continuing the tradition of and organizations as progress this country has made in mechanisms. The EAG and Russian annual “summits” of members of the well as observers discussed and developing national AMT/CFT system. Federation played an important role FATF Global Network Coordination made decisions on dozens of issues in helping Ashgabat cease to be Group (GNCG). This meeting The FATF “grey” list includes “greylisted”. of great significance in protecting countries, which have serious provided a great opportunity to the global financial system from strategic deficiencies in meeting The results of Italian presidency coordinate the efforts of the GNCG money laundering and financing of international AML/CFT standards, were also outlined in Rome during members at the highest level terrorism. and work together with this the FATF meeting. The President regarding strategic issues in An EAG delegation took an active organization to develop an action until 2014 will be Norwegian achieving consistency in procedures part in the Working groups and FATF plan to resolve these deficiencies, representative Bjorn Skogstad of mutual evaluation that will be Plenary meeting. and committed to implement this Aamo. conducted by the FATF and FSRBs. Procedures for the 4 th round plan within the agreed time limit at The FATF reiterated its commitment In February this year, the Eurasian of mutual evaluations on the the highest political level. to render assistance in the Group backed creation of a new basis of the revisions of the FATF working group to coordinate the Recommendations carried out in global FATF network. The group’s February were discussed in the Bjorn Skogstad Aamo (Norway) mandate and plan were approved at light of the application of AML/CFT the Plenary meeting in June. measures monitoring. FATF President 2012-2013 Developments in the sphere Progress reports on the mutual In July 2012, Mr. Bjorn Skogstad of typologies research were evaluations of national AML/CFT Aamo became President of the FATF. He also touched upon. The FATF systems were reviewed, including succeeded Giancarlo Del Bufalo of Italy. plenary approved three typologies those of EAG member states. reports: “Specific Risk Factors Bjorn S. Aamo, Special Advisor in in the Laundering of Proceeds of th In particular, a 5 progress report of the Ministry of Finance, Norway. Mr. Corruption”, “Illegal Tobacco Trade”, India was approved. India was asked Aamo was Director General of the FSA “Operational Issues Financial to produce another report at the next of Norway (Finanstilsynet) from 1993 Investigations Guidance”.