The final stage of the Fourth Annual EAG Contest for the Best AML/CFT Financial Analysis among compliance specialists of financial institutions took place in Krasnoyarsk as part of the V International Olympiad on Financial Security.
The competition was attended by representatives of the private sector from EAG member states, including Belarus, India, Russia, Tajikistan, Turkmenistan, and Uzbekistan. For the first time, the event also welcomed a representative from another FATF-style regional body – the Middle East and North Africa Financial Action Task Force (MENAFATF) – a specialist from the National Bank of Egypt.
Galina Bobrysheva, Chair of the Contest Committee and Deputy Director of the Federal Financial Monitoring Service, welcomed the participants. She noted the benefits of a good-hearted competition, which promotes professional development in the AML/CFT industry:
“The EAG family is pursuing two vectors: two competitions that are equally significant: the compliance case contest and the contest for the best financial investigation. This fosters a healthy spirit of professional rivalry between banking specialists and financial intelligence analysts, ultimately strengthening our joint work. In November, in Minsk, the winners will present the results of their analytical projects. I wish you all success, challenging work, unbiased evaluations, and, of course, victory!”
Sergey Teterukov, EAG Executive Secretary, also spoke at the event:
“The compliance specialists’ contest represents a consistent effort to build stronger relations with the private sector. Alongside this event, we are implementing other joint initiatives. One of them was recently held at the EAG Plenary Meeting in Moscow, co-hosted for the first time with the MENAFATF. We are confident that these partnerships will continue to grow. I would like to thank our private-sector partners for their effective engagement, their willingness to share best practices, and their commitment to mutual learning.”
Competition participants presented case studies involving the misuse of personal accounts for illicit fund transfers, money laundering through services and credit operations, hawala networks, cash withdrawals via specialized platforms, and the detection of money mule operations. The competition also featured a project presenting innovative solutions to counter the laundering of criminal proceeds.
The Russian Federation was represented by Pochta Bank JSC, whose case was selected for the contest by the Compliance Council following a review of several Russian banks’ submissions. Galina Kuznetsova, Chief Compliance Officer of TBank JSC, presented an out-of-competition analysis on cryptocurrency settlements.
Harish Segal, a private sector representative from India, shared his impressions:
“I look forward to learning from the EAG’s experience, and I sincerely commend the organizers of this event. The competition provides a fantastic platform for exchanging knowledge and sharing real-life cases, fostering both professional growth and cross-border cooperation.”
Ahmed Gouda, a participant from Egypt, also expressed an opinion on the event:
“This contest is an important initiative that facilitates knowledge sharing and professional development. I will do my best to win because it is very important. It is international in scope, not limited to domestic experience. I am very enthusiastic about today's event.”
The annual EAG contest among compliance specialists of financial institutions is aimed at promoting best practices, enhancing the effectiveness of national AML/CFT systems, and strengthening international cooperation between the public and private sectors.
The contest contributes to the creation of a repository of best practices that supports regional AML/CFT capacity-building and provides a platform for showcasing practical examples of detecting money laundering and terrorist financing schemes. These materials could subsequently be used for training and professional development within national AML systems across EAG member states.
The results of the contest will be announced at the 43rd EAG Plenary Week, scheduled to be held in November 2025 in Minsk (Republic of Belarus).
