Action Plan for the Implementation of Recommendations from Money Laundering Risk Assessment and Terrorism Financing Risk Assessment
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Eurasian Group on Combating Money Laundering and Terrorism Financing (EAG)
Eurasian Group on Combating Money Laundering and Terrorism Financing (EAG) was established on 6 October 2004 at the initiative of the Russian Federation and originally had six member states – Belarus, China, Russia, Kazakhstan, Kyrgyz Republic, and Tajikistan. Since 2005 the Republic of Uzbekistan has had the status of a full member. India became a full member in December 2010. Apart from having full-fledged members, the EAG recognizes an observer’s status, both for countries and international organizations. The Republic of Serbia has been participating in the work of EAG as an observer since June 2010.
Other observers include: UN, FATF, IMF, World Bank, Interpol, as well as following countries: USA, Great Britain, France, Germany, Italy, Japan, etc.
Main goals of the EAG is to promote 40+9 FATF Recommendations and other international standards for AML/CFT; to assist member states in implementing the standards; to develop and hold trainings in AML/CFT; to coordinate programs of cooperation with international organizations, task forces and countries concerned; to develop typologies in AML/CFT, as well as to deliver technical assistance and support to the member states. The listed goals are focused on obtaining the main objectives of EAG, which is the enhancement of AML/CFT system efficiency in each EAG member state, which will be achieved through minimizing terrorist threat in the region and globally; ensuring transparency, accountability and safety of financial system; ensuring public security in the region by creating conditions which will result in serious financial crime, including transnational ones, being detected, and crime rate, including corruption, being decreased.