In response to a request from the Ministry of Economy of Ukraine, the Project designed and delivered a multi-modular online training course to bolster the capabilities of the public authorities in understanding and applying Financial Action Task Force (FATF) standards on targeted financial sanctions.
Over the course of four sessions during the last two weeks of August 2023, more than 130 participants, representing over twenty national public authorities, engaged in a comprehensive training program facilitated by two international experts from the Council of Europe. The training delved into every aspect of the sanctioning process, commencing with the identification of sanction targets and concluding with the effective implementation and enforcement of sanctions.
What set this training apart was the unique combination of expertise brought by the Council of Europe experts. Participants gained invaluable insights by examining the training topics through various lenses, including those of the United Nations (UN), the European Union (EU), the United States (US), and specific EU jurisdictions.
The initiative is poised to have a lasting impact on national efforts to enhance compliance with FATF Recommendations 6 and 7. By aligning with the recommendations provided by MONEYVAL, it is expected that the knowledge and skills acquired during the training will significantly contribute to strengthening Ukraine's position in adhering to international standards in combating financial crime.
This collaboration not only underscores the commitment of the international community to support Ukraine's initiatives but also highlights the importance of tailored, targeted training in addressing complex challenges related to financial sanctions. As the participants return to their respective roles within national authorities, the ripple effect of this comprehensive training is anticipated to foster a more robust and effective financial regulatory environment in Ukraine.
This support is part of the European Union and the Council of Europe joint programme “Partnership for Good Governance”, co-funded by the European Union and the Council of Europe, and implemented by the Council of Europe, in the framework of the project “Enhancing anti-money laundering, counter terrorist financing and asset recovery regime in Ukraine”.