32nd Virtual EAG Plenary Meeting

32nd Virtual EAG Plenary Meeting

  • Officials from India, became the part of 32nd special Eurasian Group on Combating Money Laundering and Financing of Terrorism (EAG) plenary meeting 2020. representatives from enforcement agencies joined meeting under the aegis of the Financial Action Task Force (FATF).
  • The meeting was headed by EAG Chairman Mr. Yury Chikhanchin (Russian Federation) and the EAG Deputy Chairman Mr. Farhod Bilolov (Republic of Tadjikistan). they stated to be organized meet in June in China. but, FATF took decision to cancel Plenary meeting 2020 due to COVID-19 Disease.

Key Points –

  • The meeting took decision to approve ML/TF (Money laundering /terrorist financing) risk assessment methodology and also includes information collection methods.

Pakistan and FATF:

  • We all know that Pakistan remains on the “grey list” of FATF. before it, Pakistan got deadline till the June 2020 to ensure compliance with the 27 tasks such as stopping terrorist funding, eradicating terrorism from Pakistan land. but, Pakistan gets deadline till 18-23 2020 plenary because of COVID-19 Diseases.

EAG of FATF: EAG is known as regional body that consists 9 nations they are : India, Russia, China, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, Uzbekistan and Belarus.

About FATF (Financial Action Task Force) –
Headquarters – Paris, France
President – Xiangmin Liu
Purpose – Combat money laundering and terrorism financing
Founder – Group of Seven
Founded -1989

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