In an effort to strengthen their fight against money laundering and terrorist financing, the BRICS nations, under Russia’s leadership, convened the first meeting of their newly established Council on Combating Money Laundering and Financing of Terrorism (AML/CFT) on February 9, 2024. The council aims to enhance national anti-money laundering systems and explore additional measures for financial security. Key initiatives discussed include increasing financial system transparency, fostering public-private partnerships, and involving youth in these efforts. Projects like the International Risk Assessment Centre and the Transparent Blockchain tool for cryptocurrency analysis were also considered. This move is expected to significantly bolster the anti-money laundering efforts of member countries and contribute to the BRICS Economic Partnership Strategy 2025
