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02 June 2022, 15:08

Belarusian delegation supports Russia's proposal on MPs participation in EAG events

Sergei Rachkov. Photo courtesy of the Council of the Republic
Sergei Rachkov. Photo courtesy of the Council of the Republic

MINSK, 2 June (BelTA) - Chairman of the International Affairs and National Security Commission of the Council of the Republic of the National Assembly of Belarus Sergei Rachkov took part in the 36th plenary session of the Eurasian group on combating money laundering and financing of terrorism (EAG) via video conference on 1 June, BelTA learned from the press service of the Upper Chamber of Belarusian Parliament.

The participants of the meeting approved the report on the EAG activities during the intersessional period, approved the schedules for the second round of mutual evaluations and plenary meetings in the EAG member states, the report on the progress in the enhanced monitoring of the Kyrgyz Republic. The participants also summarized the results of the 7th international forum on oversight activities and the seminar on exchange of experience in implementing FATF standards on virtual assets.

The Belarusian delegation supported the proposal of the Russian Federation to introduce the practice of participation of MPs of the member states in the EAG events. “The participation of MPs in the discussion of transnational topics and the use of inter-parliamentary channels should help achieve one of the strategic priorities, which is to counteract the financing of terrorism as the most dangerous threat of a trans-border nature. The involvement of MPs in the EAG work will help improve the legislative framework to combat money laundering and increase the security of national economies of EAG member states,” Sergei Rachkov said at the end of the meeting.

The Eurasian Group on Combating Money Laundering and Financing of Terrorism was established in 2004 for the countries of the Eurasian region not included in the existing FATF-style regional groups, and is designed to play an important role in reducing the threat of international terrorism and ensuring the transparency, reliability and security of states' financial systems and their further integration into the international infrastructure of combating money laundering and terrorist financing. The group includes Belarus, Kazakhstan, Kyrgyzstan, Russia, Tajikistan, Turkmenistan, Uzbekistan, China and India. Sixteen states and 23 international organizations have the observer status with the EAG.

The Eurasian group on combating money laundering and financing of terrorism (EAG) is a FATF-style regional body founded in 2004 which comprises 9 countries: Belarus, Kazakhstan, Kyrgyzstan, Russia, Tajikistan, Turkmenistan, Uzbekistan, China and India. EAG is an associate member of the FATF. The group is designed to play an important role in reducing the threat of international terrorism and ensuring the transparency, reliability and security of member states' financial systems and their further integration into the international infrastructure to combat money laundering and terrorist financing. Sixteen states and 23 international organizations have observer status with EAG.

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