December 15, 2022
The Egmont Group (EG) of Financial Intelligence Units (FIUs) is deeply concerned by the devastating effects of the current Russian military aggression against Ukraine and the negative impact on the State Financial Monitoring Service of Ukraine (FIU of Ukraine).
Trust is essential to the EG. We build trust among members by promoting and remaining firm on FIUs’ operational independence, autonomy, integrity, transparency, and accountability. Situations like the one currently taking place in Ukraine hamper the essential foundation of mutual trust among EG member jurisdictions and negatively affect the success of joint anti-money laundering and counter-financing of terrorism (AML/CFT) efforts.
The EG is aware of recent measures taken by its strategic partner, the Financial Action Task Force (FATF), in June and October 2022 against the Russian Federation.
In these complex and unprecedented times, to protect the EG’s integrity, reputation, and mutual trust among its members, reconfirm its commitment to the international AML/CFT community, strengthen the EG’s relationships and collaborations with its observer organizations, international partners, and donor organizations, and ensure its corporate policies and practices align with global (financial) sanctions, the EG is implementing appropriate measures.
As the EG’s governing body, the Heads of FIU (HoFIU) have the power to determine appropriate actions to protect the EG’s interests, purposes, and goals, as set in the EG Charter and EG Principles for Information Exchange Between Financial Intelligence Units. Based on this prerogative, during its virtual meeting held on December 13, 2022, the HoFIU agreed to take the following actions related to Rosfinmonitoring (FIU of the Russian Federation):
- Revoke Rosfinmonitoring’s responsibility to host EG meetings.
- Revoke Rosfinmonitoring’s formal EG leadership, advisory, and representative positions.
- Revoke Rosfinmonitoring’s physical attendance at EG meetings and project participation privileges. Rosfinmonitoring will only be allowed to attend meetings virtually, where this possibility is made available by the host of such meetings.
- Terminate an in-kind support agreement by Rosfinmonitoring to the EG Secretariat.
- Postpone in-kind contributions from/on behalf of Rosfinmonitoring.
- Postpone Rosfinmonitoring’s corporate obligations with the expectation that payments would resume when the current crisis concludes.
The EG will monitor the implementation of these measures for as long as these actions are practical and required to protect the EG’s interests and objectives and inform the HoFIU as appropriate.
Chair of the Egmont Group of Financial Intelligence Units
For more information:
- Egmont Group of Financial Intelligence Units Charter
- Egmont Group of Financial Intelligence Units Principles for Information Exchange Between Financial Intelligence Units
- The ECOFEL’s paper on Understanding FIU Operational Independence and Autonomy
- FATF Public Statement on the Situation in Ukraine in June 2022
- FATF Public Statement on the Situation in Ukraine in October 2022
- The FATF Recommendations