OSCE supports seminar on anti-money laundering and terrorism financing

ALMATY, Kazakhstan, 7 September 2016 – An OSCE-supported three-day training seminar on anti-money laundering and combating the financing of terrorism (AML/CFT) for some 60 banking, insurance, security industry and government sector representatives began today in Almaty.

Experts from Kazakhstan, Ukraine and the United States discussed how to apply the risk-assessment approach to AML/CFT in the sphere of insurance, banking and security industry operations. The workshop participants also examined the recent changes to AML/CFT national legislation and financial fraud schemes as well as ways to enhance interaction between law enforcement and private sector representatives in investigating financial crimes.

“Money laundering and the financing of terrorism pose a threat to the functioning of any national economy,” said Arda Igembayev, Head of Unit at the Finance Ministry’s Financial Monitoring Committee. “By applying a risk-oriented approach, our committee establishes an efficient system to meet international AML/CFT obligations.”

“Criminals often use the financial and nonfinancial system for money laundering and financing illegal activities”, said Rati Japaridze, Economic and Environmental Officer of the OSCE Programme Office in Astana. “The OSCE will further assist Kazakhstan in developing efficient and flexible response mechanisms to address and minimize those security risks.”

The seminar is organized by the OSCE Programme Office in co-operation with the Finance Ministry’s Financial Monitoring Committee, the United States Embassy in Astana and the Financial Institutions’ Association. The event is the third in a series of four training seminars and builds on the Office’s multi-year efforts to promote good governance and combat money laundering and terrorism financing.