EAG and FATF

The key role in establishing international standards for combating money laundering and terrorist financing is given to the Financial Action Task Force against Money Laundering (FATF).

The FATF was created in 1989 by the Group of Seven countries.

The FATF comprises 34 member jurisdictions and 2 regional organisations.

The main tool of the FATF is its Internatonal standards on combating money laundering, financing of terrorism & proliferation,  the FATF Recommendations, which were developed after Sept. 11, 2001.

Compliance with these standards enables countries to build effective AML/CFT systems and protect the national economy from shadow capital.

According to UN Security Council Resolution 1617, the 40 9 FATF Recommendations are binding for the states comprising the United Nations.

In order to extend international standards to countries outside the FATF, 8 regional groups of its type have been set up. The EAG is one of them.

In February 2005, the EAG was granted observer status in the FATF. The Eurasian Group has been an associate member of the FATF since June 2010.

Associate member status made it possible to intensify the process of mutual integration of the EAG and the FATF: all the states of the Eurasia Group, even those that aren’t members of the FATF, can now participate in its work on behalf of the EAG. In turn, the FATF states may participate in the activities of the EAG, including the working groups, plenary meetings and other events.

Associate Member status in the FATF is recognition of the group’s achievements from the international community.

 

Authorization

    Upcoming events

    EAG in the news

    03.10.2017
    Participation in the MONEYVAL Plenary The interagency government delegation – led by Rosfinmonitoring and comprised of representatives of the Russian Foreign Ministry, Finance Ministry, Federal Security Service and the Bank or Russia – took part in the meeting of the Committee of Experts on the Evaluation of Anti-Money Laundering Measures and Financing of Terrorism (MONEYVAL), held in Strasbourg on September 26-28
    25.09.2017
    III International seminar "Effective supervision as a mechanism for ensuring transparency and stability of the financial system" was conducted in Moscow On September 20-21, III International seminar "Effective supervision as a mechanism for ensuring transparency and stability of the financial system" was conducted in Moscow
    22.09.2017
    Following the seminar on "Best Practices and International Standards on Preventing the Abuse of NPOs for the Purpose of Terrorist Financing" On September 20, 2017, in Astana, the Financial Monitoring Committee of the Ministry of Finance of the Republic of Kazakhstan, in conjunction with the OSCE Programme Office in Astana, conducted a training seminar on "Best Practices and International Standards on Preventing the Abuse of Non-profit Organizations (NPOs) for the Purpose of Terrorist Financing"
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