Workshop and round table on the "Implementation of AML/CFT Internal Controls in the Securities Market. Practical Experience in Conducting Financial Investigations into the Use of Securities to Generate and (or) Launder Criminal Proceeds"


Published At Oct 22, 2018

The workshop and round table on the "Implementation of AML/CFT Internal Controls in the Securities Market. Practical Experience in Conducting Financial Investigations into the Use of Securities to Generate and (or) Launder Criminal Proceeds" was held via video conferencing at the International Training and Methodology Centre for Financial Monitoring on 19 October 2018.

The event, organized on the initiative of the Financial Monitoring Department of the State Control Committee of Belarus (Belarusian FIU), was attended by representatives of the EAG FIUs, competent authorities and the private sector.

Russian representatives briefed the participants on the situation and the key trends in the securities market, shared insights on the implementation of internal controls in the securities market, including Moscow Exchange, and presented an in-depth review of traditional and newly identified schemes for laundering money in the securities market.

Particular emphasis was placed on the identification of such schemes and adoption of countermeasures, including internal control procedures of Moscow Exchange and the supervisory tools of the Bank of Russia. In response to Bank of Russia's ongoing efforts to restore order in the banking sector, criminals regulate modify their money funnelling schemes (including those aimed at channelling money overseas) that take advantage of the securities market. Participants were impressed with the measures taken by Moscow Exchange to identify and, as a result, reduce the volume of such transactions, as well as with the work carried out by the Bank of Russia to identify and combat money-laundering schemes.

Participants praised the quality of the workshop and round table, noting its practical aspect derived from the exchange of typologies identified by CIS FIUs.