Armenian Financial Intelligence Unit Co-Hosts Regional Event to Improve Capacity to Combat Money Laundering and Terrorism Financing

On July 14-15, the Financial Intelligence Unit of Armenia was the host for a “Financial Intelligence Unit Development Workshop” on the sidelines of The Egmont Group of FIUs’ Plenary Meeting in Yerevan, Armenia.  The workshop, which was organized by the Office of the Co-ordinator of OSCE Economic and Environmental Activities (OCEEA) and The Egmont Group, gathered FIU representatives from Armenia and Central Asia (Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan) to exchange experience, foster regional co-operation, and for non-Egmont members Tajikistan and Turkmenistan, to learn more about the Egmont accession process.  Speakers representing USAID’s Partners for Financial Stability Program (PFS), The Egmont Group, World Bank/UNODC, IMF and the FIUs of Armenia, Russia, Serbia, Israel and the United States facilitated discussions on strategic planning, national risk assessments, IT & security, information exchange and available international assistance.

PFS consultant Kenneth Volandes led two institutional capacity building strategy sessions during the workshop.  FIU representatives from PFS Beneficiary countries Serbia and Armenia shared their recent experience in building AML/CFT systems and processes.

The closing session of the workshop gathered representatives of USAID, the World Bank, UNODC, IMF and OSCE to respond to the FIUs’ stated near-term goals and to describe the assistance each organization can provide.  Participants expressed a desire for additional co-operation with the OSCE and PFS on both national and regional AML/CFT initiatives.  PFS used this meeting as an opportunity to map out a partnership strategy with OSCE and other donors on cost-sharing to build AML/CFT capacity in the PFS Beneficiary countries in Southeast Europe and Eurasia.

About the Egmont Group
Recognizing the benefits inherent in the development of a network, in 1995 a group of Financial Intelligence Units (FIUs) met at the Egmont Arenberg Palace in Brussels and decided to establish an informal group whose goal would be to facilitate international cooperation. Now known as the Egmont Group, these FIUs meet regularly to find ways to cooperate, especially in the areas of information exchange, training and the sharing of expertise.