12th Meeting of the Council of Heads of Financial Intelligence Units of CIS Member States

Published: 15.11.2018

On November 4, 2018 at the premises of the CIS Executive Committee (Minsk, Republic of Belarus) the 12th Meeting of the Council of Heads of Financial Intelligence Units of CIS Member States was held. According to the regulations the Council was chaired by the Director of the Financial Monitoring Department of the Republic of Belarus V.Reut.

The event was attended by FIUs of Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia, Tajikistan, representatives of the CIS Executive Committee. The Indian FIU Director Sh.-P.Mishra participated as observer.

V.Reut «Cooperation of financial intelligence units within the framework of the Council aims at not only revealing and suppression of financial crimes, but also the search for adequate mechanisms, new forms and methods of counteraction against new challenges and threats in order to ensure regional and international stability, security and predictable development».

During the meeting, the heads and experts of financial intelligence discussed the reduction of risks in the field of combating money laundering and financing of terrorism in the CIS. At present, at the initiative of the Council, a new version of the CIS Treaty on combating money laundering, financing of terrorism and financing of proliferation of weapons of mass destruction has been developed and is in the final stages of intergovernmental approval.

According to the CHFIU Chairman, Rosfinmonitoring Director Yu.Chikhanchin, the Council had established cooperation with the CIS branch bodies - the Council of Prosecutors General, border guards and law enforcement agencies, and there is close cooperation with international organizations such as the CSTO, the ATC and the Inter-Parliamentary Assembly.

Yu.Chikhanchin – «During our work we face new challenges, such as the emergence of ISIL in the Afghan-Pakistani region, which entails a revision of our capabilities and, first of all, the organization of interaction on the international platform with the countries of the Central Asian region. We intend to improve the legal framework in the sphere of combating money laundering and financing of terrorism. In particular, together with the CIS IPA, the model AML law is being finalized, which will meet new standards and requirements in this area. Now our main task is to coordinate the positions of the Commonwealth countries in this field, and after the adoption of the document - to streamline the national legislation of the States».

The Director of the Department for security cooperation and countering new threats and challenges of the CIS Executive Committee  A. Druzhinin noted the active participation of the CHFIU in the implementation of measures to identify persons involved in the activities of terrorist organizations, to counteract the legalization and seizure of criminal proceeds in the framework of operations "Barrier" and "Five Elements". Also, the representative of the CIS Executive Committee read a greeting to the Council members on behalf of the CIS Executive Secretary S. Lebedev.

S. Lebedev - «The Commonwealth is consistently implementing measures to strengthen stability and security and to jointly counter modern challenges and threats. An important role in this belongs to the Council of Heads of Financial Intelligence Units. No law enforcement activity is complete without the assistance of financial intelligence».

During the meeting the Council members discussed the development of common approaches to regulation of electronic payment systems for the purposes of ML/FT abuse prevention and analytical study into cryptocurrency turnover.

Yu. Chikhanchin noted the necessity to take into account the eventual use of cryptocurrencies for money laundering and terrorist financing - «This urgent problem was raised at the FATF, generally speaking, the world does not know how to resolve this issue. Attempts to introduce the regulations in one country do not bring success –it is an international problem».

Reference:

The Council of Heads of Financial Intelligence Units of CIS Member States was established on December 5, 2012 to coordinate cooperation in the field under consideration.

The Council Members include the Republic of Armenia, Republic of Belarus, Republic of Kazakhstan, Kyrgyz Republic, Russian Federation, Republic of Tajikistan, Republic of Uzbekistan and Ukraine.

Since November 11, 2015 by the decision of the Council the financial intelligence unit of the Republic of India has been granted observer status.

Cooperation of financial intelligence units within the Council is aimed not only at detecting and suppressing financial crimes, but also at finding adequate mechanisms, new forms and methods of work to counter new challenges and threats in order to ensure regional and international stability, security and predictable development.

The work carried out allows to build effective interaction between all participants of the AML/CFT system in the territory of the Commonwealth.

The main format of the Council's performance is meetings, which are held 2 times a year. To date, twelve meetings of the Council have been held.

The next meeting of the Council will be held in Moscow in May 2019.