Sunday03 November 2024
inbusinesskz.com

A delegation from Kazakhstan is participating in the plenary session of the FATF in Paris.

A delegation from the Financial Monitoring Agency is participating in the Plenary Session of the FATF taking place in Paris.
Делегация Казахстана участвует в пленарном заседании ФАТФ, которое проходит в Париже.

©gurk.kz

World experts gathered in France are discussing the impact of digitalization on the global anti-money laundering system, highlighting the increasing threat posed by online casinos and marketplaces being used for money laundering and terrorism financing.

Additionally, meeting participants emphasize that the observed rise in online platforms creates significant risks for money laundering related to crimes such as drug trafficking and corruption offenses.

The FATF project team, in collaboration with representatives from various countries, is conducting research aimed at developing recommendations and finding optimal solutions to these issues.

The current FATF meeting is being chaired by the new FATF President, Elisa de Anda Madrazo from Mexico.

During the working sessions of the meeting, delegations are also receiving reports on the mutual evaluations of the national AML/CFT systems of Oman and Argentina to assess their compliance with FATF Standards.

It is worth noting that in June of last year, Kazakhstan entered standard monitoring after successfully completing the second round of Mutual Evaluation.

Furthermore, the Agency is actively working to enhance Kazakhstan's international presence within the global FATF network, particularly in the realm of modern technologies.

In June 2024, the Financial Monitoring Agency joined the FATF Contact Group on Digital Asset Risks, allowing Kazakhstan to leverage its own experience to propose solutions for effectively combating the misuse of cryptocurrencies for illegal purposes.

The Agency is continuously working to strengthen the country's image as a responsible participant in the global anti-money laundering community.

For reference: The FATF is an intergovernmental organization that sets global standards for combating money laundering and terrorist financing, assessing the compliance of national AML/CFT systems with these standards.

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