12:28 GMT +327 May 2018
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    MOSCOW, February 10 /RIA Novosti/ - Russia proposes to establish a CIS regional group similar to the FATF (the international group for struggle against abuses in the financial sphere). This is what first deputy finance minister of Russia and head of the Russian committee for financial monitoring Viktor Zubkov said at a Tuesday conference in Moscow on CIS cooperation in the struggle against money laundering.

    Viktor Zubkov noted in his speech that today "illegal businesses and transnational criminal groupings were active in some CIS regions and about 40 countries of the West and the East."

    Illegal migration is a major direction of international terrorism today, Zubkov said. "Annually up to 17 million citizens from Asia and Africa arrive in Russia. This circumstance creates favorable conditions for various economic machinations, the proceeds from which are used to finance terrorism," he noted.

    According to Zubkov, the conference aims to "exchange information and opinions on the state and the prospects of the development of the national systems to prevent the legalization of ill-gotten funds and terrorism financing in the CIS countries."

    "We proceed from the fact that the Russian experience, and also our undertakings in the field of legislation and the organizational fundamentals of struggle against money laundering and terrorism financing, tested at the international level, can be applied successfully in the CIS countries, in the first place," he said.

    Chairman of the executive committee and CIS executive secretary Yuri Yarov also came in support of the Russian initiative of creating a CIS regional task force similar to the FATF.

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