On the sidelines of the 43rd Plenary Week of the Eurasian Group on Combating Money Laundering and Financing of Terrorism (EAG), Minsk hosted a workshop for supervisory authorities and the private sector on applying advanced technologies in internal control and supervisory activities in anti-money laundering and countering the financing of terrorism (AML/CFT).
The event was opened by EAG Chairman, Director of the Federal Financial Monitoring Service, Yury Chikhanchin. In his remarks, he underscored the importance of bringing together actors from the anti-money laundering systems of EAG member states and observer jurisdictions to promote a comfortable and secure financial environment on the national and regional levels.
"In an era of digital transformation, IT technologies have become one of our most effective instruments in the fight against financial crimes. They enable us not only to respond to emerging threats, but also to anticipate them, uncover hidden schemes, and protect financial systems and citizens alike. Today’s workshop provides an opportunity to share experiences in using advanced analytical tools and artificial intelligence in supervising anti-money laundering and countering the financing of terrorism (AML/CFT). I wish all participants productive discussions and the development of joint solutions that will strengthen financial security," said Mr. Chikhanchin.
The workshop was attended by financial intelligence units, supervisory authorities, and private sector representatives from EAG member states, as well as observers of the Eurasian Group.
Participants were also addressed by Galina Bobrysheva, Deputy Director of the Federal Financial Monitoring Service. She emphasized the importance of cooperation between the private sector and supervisory authorities amid the rapid evolution of technologies in the monetary and financial spheres.
"The work of the private sector and the supervisory authorities constitutes a single, integrated system. Signals from the private sector typically initiate the anti-money laundering process, triggering comprehensive measures under the AML/CFT framework," she noted.
During the workshop, participants shared practical experience in applying modern technologies to mitigate the risks associated with suspicious transactions. Particular attention was given to banks’ development of proprietary IT tools for combating money laundering and terrorist financing, the use of anti-money laundering software solutions by cryptocurrency platforms and microfinance organizations, the automation of risk-based supervision, and the application of AML/CFT technologies in government systems for real property registration, the notarial system, the gambling industry, and the precious metals and stones sector.
Special emphasis was placed on preventing the misuse of virtual assets for criminal purposes, as well as addressing the involvement of youth and senior citizens in criminal schemes as so-called "money mules".
