A meeting of the Interagency Working Group on Combating Illegal Financial Transactions in the North Caucasian Federal District

A meeting of the Interagency Working Group on Combating Illegal Financial Transactions (IWG) in the North Caucasian Federal District, chaired by O. Belaventsev, Plenipotentiary Representative of the Russian President in the North Caucasian Federal District, was held in Pyatigorsk on  March 14, 2018.

The meeting agenda included issues related to the decriminalization of the jewelry sector as well as the detection and termination of illegal precious metals and precious stones schemes.

Previously, the fight against illicit financial transactions in this area was the subject of discussion at a meeting of the federal IWG, chaired by assistant to the President of the Russian Federation E. Shkolov. At the end of the meeting, participants proposed to review the regional specifics of the identified risks posed by precious metals and precious stones transactions at the IWG meeting in the North Caucasian Federal District.

The meeting of the regional group was attended by O. Krylov,  IWG Executive Secretary and Deputy Director of Rosfinmonitoring; A. Lavrenko, Assistant Administrator at the Presidential Office for Public Service and Personnel and a member of the IWG; heads of the relevant departments of the Russian Finance Ministry and the Assay Chamber.

Among the meeting outcomes was the development of measures aimed at combating the illicit trade in jewelry items and mitigating the risk of illegal financial transactions in the jewelry sector of the North Caucasian Federal District.