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Russia–Africa Economic and Humanitarian Forum

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International Cooperation in Financial Security Among Key Topics of the Forthcoming Economic Forum

On 27 July, the panel discussion ‘International Cooperation in Financial Security’ will be part of the business programme of the Russia–Africa Economic and Humanitarian Forum as part of the ‘New Global Economy’ track. The session will be moderated by Nikolay Zhuravlev, Deputy Chairman of the Federation Council of the Federal Assembly of the Russian Federation. The following participants are expected to join the discussion: German Neglyad, State Secretary – Deputy Director, Federal Financial Monitoring Service; Ilya Yasinskiy, Director of Financial Monitoring and Currency Control Department, Bank of Russia; Alexey Lyzhenkov, Deputy Director of the Department for New Challenges and Threats, Ministry of Foreign Affairs of the Russian Federation; Ahmed Said Hussein Khalil, Chairman, Egyptian Money Laundering and Terrorist Financing Combating Unit; and Dubale Mukuken Yirga, Head of Legal Division, Eastern and Southern Africa Anti-Money Laundering Group, etc.

In today’s world, the fight against financial crime is complicated by the fact that the theft of funds takes place in the absence of physical contact, and the interaction between the perpetrator and the potential victim takes place in virtual space or through the use of communications. Financial technology, which is experiencing an explosive growth, allows literally dozens of cross-border transfers to be made around the world in a matter of seconds. These convenient information and financial technologies are actively used by fraudsters, drug traffickers, terrorists, corrupt officials, human and arms traffickers, and other criminals. Investigating their crimes and unravelling their ‘financial traces’ is impossible without cooperation between the competent government authorities of different countries whose jurisdictions are affected by these crimes. The panellists will answer the following questions: what is needed to strengthen bilateral and multilateral cooperation in the area of financial security, anti-money laundering and countering the financing of terrorism, and what needs to be done to effectively carry out preventive work, including with young people, to explain how these offences (fraud is among them) are committed?

“In the context of the COVID-19 pandemic, significant segments of the economy and, consequently, financial activity of citizens have gone online. The sector of shadow web markets has expanded, the number of duplicate websites disguised as original ones is growing, the number of cases of funds embezzlement from bank cards and e-mail spamming for this purpose are increasing, and the use of cryptocurrencies by terrorist groups as one of the safest ways of self-financing is gaining momentum. Countering the financing of terrorism is one of the key areas on the agenda of international antiterrorist cooperation,” said Alexey Lyzhenkov, Deputy Director of the Department for New Challenges and Threats, Ministry of Foreign Affairs of the Russian Federation.

The panel discussion is scheduled for 14:00 in conference hall G1 (pavilion G).

The Roscongress Foundation is the organizer of the Second Russia–Africa Summit and Economic and Humanitarian Forum. 

Official website: summitafrica.ru

 

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“We highly value the results of our joint work at the summit. I am sure the achieved results are creating a good foundation for further deepening the Russia-Africa partnership in the interests of our nations’ prosperity and wellbeing.”

President of the Russian Federation
Vladimir Putin

The Russia–Africa Summit, which is taking place in Sochi on 23–24 October 2019, encapsulates the historically friendly relations between the African continent and the Russian Federation. This Summit carries great significance as it is the first of its kind to emerge during a period of major global and international transformations. In response to the aspirations of the people it is representing, the Summit intends to build a comprehensive framework for expanding Russian–African relations into broader horizons of joint cooperation across different fields.

The African nations and Russia share a common understanding of international relations, based on the principles of respect for the rule of international law, equality, non-interference in the internal affairs of states, and the peaceful resolution of disputes. Both sides affirm their commitment to support multilateral actions to oppose new international threats, be they terrorism and extremism in all their forms, or declining growth rates. The two sides share a firm conviction regarding the importance of developing trade flows and supporting mutual investment in such a way as to ensure security, peace and development for the African and Russian people.

African countries have huge potential and opportunities that will allow them, once efforts to streamline their economies have been achieved, to emerge as real global players. In recent years, the nations of this continent have achieved major successes spanning the political, economic, social and administrative spheres. Africa has flourished in terms of growth over the past decade, reaching a continent-wide growth rate of 3.55% in 2018.

The African Union Summit, which was held in Niger in July 2019, continued the efforts of the African countries and saw the African Continental Free Trade Agreement come into force, along with its operational instruments. The agreement is one of the key objectives of Agenda 2063, an African development strategy that has been created to address the African people’s desire for prosperity and decent living standards.

These successes are opening up wide-ranging prospects for cooperation between African countries and the Russian Federation, and confirm the determination of African governments and their people to cooperate with multiple partners in order to establish mutually beneficial relations.

With this in mind, we express our hopes that the Russia–Africa Summit will help in the establishment of constructive strategic relations, based on partnership between two sides across various fields, and in the service of fulfilling the hopes and aspirations of the African people and their friends in Russia.

President of the Arab Republic of Egypt
Abdelfattah ALSISI