Eleventh Meeting of Council of CIS Heads of Financial Intelligence Units

On May 23, 2018, the meeting of the Heads of Financial Intelligence Units of the CIS Member Countries (CHFIU) chaired by Rosfinmoniotring Director Yury Chikhanchin was held in Nanjing (China). Apart from the Heads of the CIS FIUs, the meeting was traditionally attended by the representatives of India and China.

The agenda focused on discussion of supranational risks and threats, interagency coordination, international cooperation and interaction with the private sector.

In his welcome address, Yury Chikhanchin emphasized that, during its five-years history, the Council had proved itself a valuable forum for high-level professional discussion of a range of issues pertaining to combating money laundering, terrorist financing and proliferation financing. “I am convinced that the Council opens great opportunities for further improvements and cooperation among our countries”, pointed out the Head of the Russian financial intelligence.

In 2018, the Council of Heads of FIUs enjoyed extension of its membership: Uzbekistan, represented by Mr. Mavlonov, Head of the Department for Combating Tax, Foreign Exchange Offences and Money Laundering of the General Prosecutor’s Office of the Republic of Uzbekistan, was admitted to the Council as a new member.

The critically important efforts pursued by the CHFIU involve combating the financing of terrorism pursuant to the Plan of the ongoing operation (code-named the «Barrier») for identifying persons linked to international terrorist organization.

Besides that, the incoming cross-border financial flows from the CIS member countries are subject to ongoing screening for identifying financial transactions involving transfer of funds to the so-called versatile money laundering structures that redistribute and launder proceeds of various types of crime. The analysis shows that accounts of the same foreign companies controlled by professional money launderers may be used for redistribution of funds originating from several countries located in the CIS region.

For implementing the provisions of the Concept of Information Sharing among CIS FIUs and the Concept of AML/CTF/CPF Cooperation among CIS Member Countries and pursuant to the resolution of the Council of Heads of FIUs adopted on November 13, 2017 in Nanjing, Russia announced the establishment of the system of information sharing among the financial intelligence units of the CIS member countries.

Besides that, the attendees to the meeting discussed issues pertaining to regulation of electronic payment systems for preventing their misuse for ML/TF and cooperation between the CHFIU and the Secretariat of the Collective Security Treaty Organization (CSTO).