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CIS to create center for money laundering, terrorist financing risks assessment

It is proposed to create an international center for assessing the risks of money laundering and terrorist financing in the Commonwealth of Independent States. Executive Committee of the organization reports.

The issue was discussed at a meeting of the Council of Heads of Financial Intelligence Units of the CIS member states, which took place on February 2 in an online format.

The meeting was attended by representatives of Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia, Tajikistan, Uzbekistan, as well as the CIS Executive Committee, sectoral cooperation bodies in security sphere within the framework of the Commonwealth, the international training and methodological center for financial monitoring, the Eurasian group on combating money laundering and financing of terrorism.

The center will be an infrastructure providing the exchange of data and electronic documents between the subjects of electronic interaction.

It was decided to secure its legal status by an appropriate interstate agreement, the draft of which is planned to be developed and submitted for discussion this year.

The official completion of Milky Way Operation, which has been conducted in the Commonwealth since 2015, has been announced. It was aimed at detection and investigating subjects of the shadow market of services for the redistribution and laundering of funds from various types of illegal activities.

The work will be carried out within the framework of the new project under the code name «Orion».

In addition, the meeting participants shared their experience in combating money laundering, financing of terrorism and proliferation of weapons of mass destruction in their states, discussed issues related to the activities of several working groups created within the Council, countering criminal behavior in the cryptocurrency environment.