Enhancing co-operation in combating corruption and money laundering is in focus of OSCE-led expert meeting in Vienna

VIENNA, 6 September 2016 – Representatives of financial intelligence agencies in charge of combating money laundering from 10 countries, as well as experts from international organizations conducted a two-day expert meeting on “Fostering Co-operation in Combating Corruption and Money Laundering” that ended in Vienna today.

The expert meeting contributed to enhanced co-operation among the Financial Intelligence Units (FIUs) responsible for the prevention of money laundering and the investigation of crimes committed to legalize internationally acquired criminal assets. Participants exchanged best practices in this field, conducted a “gap analysis” to determine where performance could be improved and explored new trends in identifying and combating various financial fraud schemes.

“It is well known that criminally complicit financial service providers, such as those who abuse otherwise legal offshore structures, continue to use shell corporations and other structures for illegal purposes, including fraud, laundering proceeds of corruption and tax evasion,” said Ermelinda Meksi, Deputy Co-ordinator/Head of Economic Activities at the Office of the Co-ordinator of OSCE Economic and Environmental Activities. She added that effective anti-money laundering mechanisms and policies are the essential ingredient in protecting the economy and security of the OSCE’s participating States and the wider region.

Melissa Tullis, Programme Officer at the Division for Policy Analysis and Public Affairs, UNODC, said: “Combating money laundering, the financing of terrorism, corruption in all its forms and economic crime will be fundamental for countries to achieve true sustainable development. The UNODC is committed to assisting states in implementing robust anti-money laundering and counter terrorism financing frameworks.”

The event was hosted and organized by the Office of the Co-ordinator of OSCE Economic and Environmental Activities (OCEEA) in co-operation with the Office for Prevention and Fight Against Money Laundering of the Republic of Moldova, the EU High-Level Adviser in the Field of Anti-Money Laundering in the Republic of Moldova and the United Nations Office on Drugs and Crime (UNODC).

The event brought together over 30 participants from Austria, the Republic of Lithuania, Latvia, Estonia, the Republic of Moldova, Ukraine, the Russian Federation, Israel, Romania, Lichtenstein, and experts from Eurojust, Europol, UNODC and Moneyval.