Государственная служба финансовой разведки при Министерстве финансов Кыргызской Республики

FATF Working groups and Plenary meetings

05-03-2018

The delegation of the Kyrgyz Republic headed by the Chairman of the State Financial Intelligence Service under the Government of the Kyrgyz Republic, A. Kadyraliev took part in the FATF (Financial Action Task Force) Working groups and Plenary meetings on 18-23 February, 2018.

The main goals of the event were: consideration and discussion of key AML / CFT issues, including the initiatives of the FATF President, introducing amendments and additions to the FATF Methodology, development of the draft Guidance on Counter Proliferation Financing, strengthening global measures to counter the financing of terrorism, discussion of mutual evaluation reports and the progress of the FATF member states.

The Plenary discussed the mutual evaluation report of Iceland, which set out the level of effectiveness of Iceland’s AML/CFT system and its level of compliance with the FATF Recommendations. Based on the results of the above discussion, the country falls under enhancedmonitoring, which entails the need to report once a year.

The Plenary discussed the reports on the progress of Spain and Norway, which have made significant progress in improving the country’s level of technical compliance into line with the FATF Recommendations.

Bosnia and Herzegovina will no longer be subject to the FATF’s monitoring for its impressive progress.

The participating states expressed strong interest in studying and subsequently introducing new and more effective innovative technologies into the activities of FIUs. During the Plenary, individual FATF member states made presentations on the use of the latest AML / CFT programs.

FATF Heads of FIUs discussed how to enhance the effectiveness of suspicious transaction reporting (STR) regimes and the quality of financial intelligence. Participants shared their views on the importance of FIU autonomy and independence and its impact on the strategic and operational work of FIUs and discussed the practical/operational considerations in further developing public/private partnerships and the application of IT tools to improve the quality of financial intelligence.

As a result of the activities revisions to Recommendation 2 were adopted. National Coordination and Cooperation

The key documents adopted at the Plenary meeting were undoubtedly:

1. Jurisdictions that are not longer subjects of the current global FATF AML / CFT process (the “black list”)

2. Jurisdictions with strategic AML/CFT deficiencies (the “gray list”)

According to the review, the "black list" remained unchanged (North Korea and Iran), Serbia was added to the grey list. At the moment it contains 9 jurisdictions - Vanuatu, Iraq, Yemen, Serbia, Syria, Trinidad Tobago, Tunisia, Sri Lanka and Ethiopia.

The next FATF Plenary meeting is scheduled to take place in Paris in June 2018.