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8 February 2024

BRICS COUNCIL ON ANTI-MONEY LAUNDERING AND COUNTERING FINANCING OF TERRORISM HELD ITS FIRST MEETING IN AN EXPANDED FORMAT

The BRICS Council on Anti-Money Laundering and Countering Financing of Terrorism (hereinafter referred to as “BRICS AML/CFT Council”) held its first meeting in 2024 at Rosfinmonitoring via video conferencing.

The meeting participants discussed ways to improve the work of national anti-money laundering systems and further joint measures to ensure financial security.

As part of the Russian 2024 BRICS Chairmanship, initiatives were presented to enhance financial systems’ transparency, mitigate risks and threats, strengthen public-private partnership, and involve young people in the field of financial security.

These include such projects as the International Risk Assessment Center, the Transparent Blockchain cryptocurrency transaction analysis tool, the International Olympiad on Financial Security, the International Compliance Council, and a number of educational initiatives of the International Training and Methodology Center for Financial Monitoring.

The parties expressed confidence that the BRICS AML/CFT Council can make a significant contribution to the global system of combating money laundering and the financing of terrorism, as well as to the implementation of the BRICS Strategy for Economic Partnership until 2025, including the transparency of payments.

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