Tashkent, Uzbekistan (UzDaily.com) -- On 10 October 2022, the 20th meeting of the Council of Heads of Financial Intelligence Units of the CIS Member States was held in Sochi (Russian Federation).

The event was held in a face-to-face format, representatives of the financial intelligence services of Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia, Tajikistan and Uzbekistan took part in its work. Yury Chikhanchin, director of the Federal Financial Monitoring Service of the Russian Federation, chaired the meeting. This was reported by the press service of the CIS Executive Committee.

The meeting discussed 7 issues. The focus of financial intelligence is the fight against the financing of terrorism, including through the suppression of the use of non-profit organizations for illegal purposes.

Council members discussed measures to minimize the risks of criminal use of new technologies, in particular, cryptocurrencies. The meeting participants agreed that the registries of cryptocurrency exchanges and wallets would allow to accumulate relevant information necessary for conducting financial investigations on this topic.

In addition, the results of the first meeting of the expert group to consider the Agreement on the Establishment of the International Center for Risk Assessment of the Legalization (Laundering) of Proceeds from Crime and the Financing of Terrorism were considered.

The Russian Federation shared its experience in monitoring the targeted spending of budget funds. The system was introduced in Russia at the end of 2015 and is being improved in order to eliminate loopholes for criminals.