CTED, EAG discuss Council asset-freezing requirements
The Eurasian Group on Combating Money-Laundering and Terrorism Financing (EAG) and the International Training and Methodology Centre for Financial Monitoring of the Russian Federation (ITMCFM), acting in close cooperation with CTED, held a workshop on the freezing of assets under Security Council resolution 1373 (2001) on 10 and 11 November 2013.
The workshop was held in Ashgabat, Turkmenistan in the margins of the 19th EAG plenary meeting.
Nine EAG member countries (Belarus, China, India, Kazakhstan, Kyrgyzstan, Russia, Tajikistan, Turkmenistan and Uzbekistan) and two observer States (Armenia and Ukraine) gave detailed overviews of their legal and operational regimes for freezing terrorist assets. Experts from Belgium, the United Kingdom and the United States of America, as well as from CTED, the UN 1267 Committee, UNODC, the World Bank, MONEYVAL and the OSCE, also took part in the discussions.
The event was part of a global initiative launched by CTED in October 2012 aimed at helping States establish or enhance national mechanisms for freezing terrorist assets in accordance with resolution 1373 (2001). Two similar regional events have already been held for member States of the West African Economic and Monetary Union and Eastern African countries.
Resolution 1373 (2001) requires Member States to freeze without delay funds and other financial assets of people who commit, or attempt to commit, terrorist acts. The assets of those who participate in or facilitate the commission of these acts should also be frozen in an effort to disrupt terrorism financing. To comply with the resolution's provisions, States must build a national designation mechanism that is in line with due process guarantees, examines third-country requests and conducts outreach to the private sector. Most EAG member countries have recently amended their laws on asset–freezing, which are generally implemented by their national financial intelligence units.
EAG Executive Secretary, Mr. Boris Toropov noted that the workshop enabled experts to identify many points of common interest that will help States cooperate in identifying appropriate and efficient solutions.
ITMCFM Head Mr. Oleg Ivanov said that the participation of CTED and other international expert groups in the workshop reflected a common desire to combat terrorism financing. He also expressed the willingness of ITMCFM to continue cooperation on other projects. Mr. Yuriy Chikhanchin, Director of the Federal Financial Monitoring Service of the Russian Federation and EAG Chairman, stated that the discussions were of direct relevance to the requirements of resolution 1373 (2001) and the related recommendations of the Financial Action Task Force (FATF) and were of particular relevance in light of the urgent need to prevent terrorism financing.
The Minister of Finance of Turkmenistan delivered the opening and closing remarks on behalf of the host country.