OSCE Centre supports Kyrgyz Financial Intelligence Unit to fight money laundering and financing of terrorism

BISHKEK, 31 July 2008 - Building the capacity of Kyrgyzstan's Financial Intelligence Unit (FIU) and enhancing international co-operation was the focus of an international conference which ended today in the Kyrgyz town of Cholpon-Ata.

The event was organized by the OSCE Centre and the International Monetary Fund, in collaboration with the Egmont Group and the Swiss Development and Co-operation Office.

FIUs are national governmental agencies established to combat money laundering and terrorist activity financing. National and international experts took part in the two-day discussion, with topics including procedures for Kyrgyzstan to join the Egmont Group of FIUs, as well as tools for improving co-operation and efficient information exchange between FIUs in the region. Representatives of FIUs in Kyrgyzstan, Uzbekistan, Armenia, and Moldova also participated.

"This conference enabled practitioners in combating money laundering and terrorist financing to discuss and share experience. Some of the nations attending the conference are already members of the Egmont Group, which comprises FIUs worldwide; others are not. The conference assisted those seeking membership, including Kyrgyzstan, in their accession preparations," said Andrew Tesoriere, head of the OSCE Centre in Bishkek.

Maksatbek Sadyrov, Chairman of the Kyrgyz Financial Intelligence Service, said that the conference contributed to increasing the capacity of the institution to address illegal money laundering effectively.

The conference was organized as part of an OSCE Centre in Bishkek project aimed at enhancing the legal and institutional capacity of Kyrgyz institutions to combat money laundering and financing of terrorism.