April 24, 2017 FATF and EAG Joint Experts’ Meeting


Published At Apr 26, 2017

On April 24, 2017 in Moscow, at the initiative of Rosfinmonitoring, a Joint Experts’ Meeting of the Financial Action Task Force (FATF) and Eurasian Group on Combating Money Laundering and Financing of Terrorism (EAG) was opened. FATF President, Juan Manuel Vega-Serrano (Spain), arrived in Moscow with a working visit to take part in the event, dedicated to typologies of anti-money laundering and counter-terrorism financing. Over 200 representatives from 20 countries participated in the workshop.

In his welcoming remarks the Head of the Russian financial intelligence unit, Yury Chikhanchin reminded that recent tragic events in Paris, Stockholm, Saint-Petersburg, London and other cities all around the world had revealed the acuteness of the imminent terrorist threat. It makes us consolidate our efforts in improving effectiveness of suppressing financial support of terrorist organizations, first of all ISIL, and in fighting financial and economic crime in general:

“Specific-field international structures, in particular, FATF, provide the necessary support and coordinate national efforts in countering modern challenges and threats in the financial field. An active research work with involvement of world leading experts is being carried out. These efforts are also aimed at identification of these challenges and threats as well as search of ways of their neutralization with the use of certain methodology and tools”.

“I would like to focus on the issue of terrorists’ recruitment financing, - Yu. Chikhanchin highlighted, –The Russian Federation jointly with Spain proposed to the international community a relevant project. Such research will enable countries to understand better financial mechanisms behind recruitment, which at the end will facilitate identification and minimization of modern terrorism financing risks”.

Another Russian initiative, mentioned by the Head of the Russian financial intelligence unit is systematic analysis of trans-border financial flows and identification of structure created by professional mediators for purposes of redistribution, laundering and management of clients’ monetary funds that may include organized criminal groups and terrorist organizations.

“Such meetings always enrich you with knowledge and experience and increase the level of qualification of experts – one of Russian top priorities at the moment”.

The agenda of the meeting that will last until April 27 also includes such relevant issues as national information exchange and beneficial ownership. We are eager to share Russia’s and EAG member states’ results in this field.

Another point of Mr. Vega Serrano’s agenda was acquaintance with the Russian AML/CTF education system. On April 24 the FATF President paid a visit to the International Training and Methodological Centre for Financial Monitoring (ITMCFM) – backbone AML/CFT educational institution.

As part of his call to ITMCFM, Mr. Vega-Serrano jointly with Rosfinmonitoring’s Director – Eurasian group Chairman Yu. Chikhanchin took part in an international round table, dedicated to ML/TF risks in new payment technologies. The event was attended by experts from Kazakhstan, Kyrgyzstan, Tajikistan and Uzbekistan via videoconferencing.

To familiarize with the Russian system of personnel training and scientific research FATF President arrived in the P.N. Lebedev Physical Institute and Financial University under the Government of the Russian Federation.

On April 25 FATF President and Executive Secretary D. Lewis visited Rosfinmonitoring’s Risk Assessment Centre. Being Head of the Spanish FIU, Mr. Vega-Serrano showed a great interest in the system of Russian analysts’ work with ML/TF risks: from interaction of the national anti-money laundering system to specific results of ML/TF risks mitigation. Such Rosfinmonitoring’s projects as “Personal Account” and new approaches to the system of effectiveness management and evaluation were also appreciated.

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Mr. Vega-Serrano is the Head of the Spanish financial intelligence unit and Executive Director of the AML/CTF supervisory body SEPBLAC. Moreover, Mr. Vega-Serrano is a PhD in Law and master of Economics. He published several books and articles on financial regulation.