Home » Security Issues » Money Laundering » Measures taken International level to tackle Money Laundering » Eurasian Group on Combating Money Laundering and Financing of Terrorism (EAG)
- India attended the virtual 32nd special Eurasian Group on Combating Money Laundering and Financing of Terrorism (EAG) plenary meeting, under the aegis of the Financial Action Task Force.
- The EAG is a regional body comprising nine countries: India, Russia, China, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, Uzbekistan and Belarus.
- Established in 2004, it is an associate member of the FATF.
- The Agreement on the Eurasian Group on Combating Money Laundering and Financing of Terrorism was signed in Moscow in June 2011, granting the EAG the status of a regional intergovernmental organization.
- The main tasks of the EAG:
- Assisting member-states in implementing the 40 FATF anti-money laundering Recommendations and the 9 Special FATF Recommendations on combating terrorist financing (FATF 40+9 Recommendations).
- Developing and conducting joint activities aimed at combating money laundering and terrorist financing.
- Implementing a program of mutual evaluations of member-states based on the FATF 40+9 Recommendations, including assessment of the effectiveness of legislative and other measures adopted in the sphere of AML/CFT [Anti-Money Laundering/Combating the Financing of Terrorism]
- Coordinating international cooperation and technical assistance programs with specialized international organizations, bodies, and interested states.
- Analyzing money laundering and terrorist financing trends (typologies) and exchanging best practices of combating such crimes taking into account regional specifics.
