Background information
The Eurasian Group on combating money laundering and financing of terrorism (EAG) was formed on Russia’s initiative on October 6th 2004 at the Inaugural Conference in Moscow attended by six founding countries: Belarus, China, Kazakhstan, Kyrgyzstan, Russia, and Tajikistan. Uzbekistan, previously an EAG observer, joined the EAG as a member state in 2005. In June 2010 Turkmenistan became a new EAG member state.
The creation of the EAG to unite Eurasian countries outside existing regional FATF-style bodies was meant to play a key role in minimizing the treat of terrorism and contributing to the transparency, reliability and safety of the regional financial system, as well as to involve the region’s countries in the international AML/CFT system. Within this new structure it was important to organize technical assistance for EAG member states in creating their own national AML/CFT systems.
Russia first came forward with this initiative at the FATF Plenary in October 2003, after which this matter was raised at the international meeting entitled 'Cooperation of CIS Member States in Combating Money Laundering and Terrorist Financing', attended by representatives of CIS member states and China, as well as a number of international organizations. With their approval Russia further proposed this issue for consideration by the Council of Foreign Ministers of CIS member states. The Council supported Russia’s initiative and recommended that interested countries hold an inaugural conference to create a regional FATF-style body, which they did on October 6 2004.
Russia assumed the obligation to maintain the EAG Secretariat and finance other EAG activities.