Eurasian Group to conduct assessment on combating money laundering in Turkmenistan
ASHGABAT, Turkmenistan, Feb. 21
By Huseyn Hasanov– Trend:
Turkmenistan has set up an interdepartmental commission on the preparation for the Eurasian Group to Combat Money Laundering and the Financing of Terrorism (EAG) event, Trend reports with reference to the relevant decree of the country's President Gurbanguly Berdimuhamedov.
The matter is about the assessment of Turkmenistan's national system on aforementioned issues. The document was sent to the relevant structures of the country.
Turkmenistan joined the EAG in 2010. This opened up opportunities for Turkmenistan to actively participate in the FATF (Financial Action Task Force) and to cooperate with other countries and international organizations in combating money laundering and financing of terrorism.
Later, in accordance with the FATF recommendations, an article was introduced on criminal liability for the financing of terrorism. The country has a Financial Monitoring Service under the Finance and Economics Ministry.