MINSK, 11 October (BelTA) - The 20th meeting of the CIS Council of Heads of Financial Intelligence Units was held in Sochi, Russia on 10 October, BelTA learned from the press service of the CIS Executive Committee.
The in-person meeting was attended by representatives of the financial intelligence of Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia, Tajikistan and Uzbekistan. The meeting was chaired by Head of the Russian Federal Financial Monitoring Service Yuri Chikhanchin.
Seven issues were on the agenda of the meeting. The focus was on combating the financing of terrorism, including by suppressing the use of non-profit organizations for illegal purposes.
The council discussed measures to minimize the risks of criminal use of new technologies, in particular, cryptocurrency. The meeting participants agreed that the registers of cryptocurrency exchanges and wallets will allow accumulating relevant information necessary for conducting financial investigations on this topic.
In addition, the council considered the results of the first meeting of the expert group to consider an agreement to set up an international center for assessing the risks of legalization (laundering) of proceeds from crime and the financing of terrorism.
The Russian Federation shared its experience in monitoring the targeted expenditure of budget funds. Russia introduced the system at the end of 2015 and is being improved in order to eliminate loopholes for criminals.
