Published: 18.10.2021

On October 14-15, 2021, the 7th International Supervisors' Forum was held via videoconferencing. The traditional format of the event brought together more than 200 experts of supervisory authorities and financial intelligence units from member and observer states of the Eurasian Group.

The key topic of the Forum was the development of risk-based approach mechanisms when executing AML/CFT control (supervision). Among the issues discussed at the event were the provisions of the new FATF Guidance on Risk-Based Supervision, risk assessment models to be used in the activities of reporting entities, as well as the sectoral risk assessment methodology. Risk-based approach in the precious metals and stones sector was of special interest for participants. Representatives of regulators and supervisory authorities shared their experience in the area of creating special IT-tools and platforms for ensuring traceability of transactions and transparency of market participants.

Special attention was paid to the digitalization of the credit and financial sphere and the threats of money laundering and terrorist financing related to this trend, as well as to the development of national digital currency projects (experience of the People's Republic of China).

The Forum participants noted that digitalization of supervision is especially important in industries where a significant number of entities operate and where there are increased risks.