Turkmenistan holds meeting on fighting money laundering, financing of terrorism
ASHGABAT, Turkmenistan, Feb. 27
By Huseyn Hasanov – Trend:
Three-day seminar entitled "The National preparation to mutual assessment by the Eurasian Group (on combating money laundering and financing of terrorism (EAG)): best practices of the OSCE states" began in Ashgabat on Feb. 26, 2020, Trend reports with reference to the Turkmen Foreign Ministry.
Representatives of various ministries and state entities of Turkmenistan, including the Ministry of Finance and Economy, Ministry of Foreign Affairs, Central Bank and State Committee for Statistics are taking part in the event.
On the first day the participants touched upon the process of mutual assessment according to the FATF (Financial Action Task Force) method, including the issues of technical correspondence of the legislation to the FATF standards, understanding of relevant risks, transparency of legal persons and establishments, supervision in the private sector.
In the consecutive days, the participants of the seminar will discuss the international cooperation in the area of combating money laundering and financing of terrorism, financial target sanctions, as well as the supervision in the field of established non-financial entities and professions.
Recently, an interdepartmental commission was set up in Turkmenistan to prepare for the EAG event, which the country joined in 2010.
In 2009, Turkmenistan adopted a law on combating money laundering and the financing of terrorism.
Later, according to the recommendations of the FATF, an article was introduced on criminal liability for the financing of terrorism.