Experts and analysts of financial intelligence units from Armenia, Belarus, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, Uzbekistan and Russia took part in the training "Corporate Entities and Financial Products", held in Moscow from August 22-24, 2018. This is a pilot project of the Egmont Group and ITMCFM to train AML/CFT personnel of Eurasia.
In his welcoming remarks to the participants, Yevgeny Legostayev, ITMCFM director, emphasized the importance of the Egmont Group countries' efforts to build a common system of mechanisms for identifying, localizing and suppressing money laundering schemes. "The disappearance of borders in the economic sector results in the emergence of interstate money laundering schemes that can only be tackled through joint efforts. It requires joint analysis of financial schemes and money laundering opportunities as well as the pooling of efforts to combat organized crime. We've gathered here today to share experiences and discuss the most effective mechanisms for combating financial and economic crimes," said Legostaev.
During the training, participants examined the specifics and key elements of various types of financial institutions and instruments, corporate entities and DNFBPs, their vulnerability to money laundering and other issues. The key aspect of the training was the practical awareness of the covered topics and agenda items.
FIU analysts were able to study the experience of their foreign counterparts and provide insight into the distinctive features of their domestic AML/CFT regimes. Participants thanked the meeting organizers for the opportunity to foster cooperation between the financial intelligence officers of Eurasia. According to experts, such activities contribute to the success of joint financial investigations by strengthening operational cooperation between AML/CFT personnel.