OSCE supports anti-money laundering and countering terrorist financing efforts of Turkmenistan

Best practices in risk management related to anti-money laundering and countering the financing of terrorism (AML/CFT) was the focus of an OSCE seminar from 13 to 14 July 2021 in Ashgabat. Representatives of the Ministry of Finance and Economy of Turkmenistan, its Financial Monitoring Service, the Central Bank, the Supreme Court, the General Prosecutor’s Office, the Bar Association, law enforcement agencies and other state institutions, as well as the representatives of the private sector attended the seminar.

The purpose of the event, organized by the OSCE Centre in Ashgabat, was to facilitate the exchange of experience and lessons learnt in implementing national and international strategic documents in the AML/CFT area. Participants also discussed the results of the AML/CFT National Risk Assessment Report 2018-2020 and practical steps in implementation of the national Risk Management Action Plan 2021-2022 (RMAP).

International experts from Latvia and Moldova elaborated on the role of law enforcement, other state agencies and private sectors in the RMAP implementation and inter-agency co-operation in the area. They also presented on effective practices related to the application of a risk-based approach.

The seminar was followed by a two-day discussion on the process of National Preparation to the Mutual Evaluation (MU) of Turkmenistan’s AML/CFT system by the Eurasian Group on Combating Money Laundering and Financing of Terrorism (EAG). Participants were briefed on best practices for preparing for the EAG evaluation process, and they reviewed the roles and responsibilities of the governmental and non-governmental structures expected to be involved in the MU preparation, as well as the face-to-face interviewing processes.   

“The OSCE is fully committed to countering money laundering, as well as terrorist financing and related predicate crimes, putting it as a priority policy task, which is supported by adequate legal instruments, adequate financial, personnel and organizational resources and, if necessary, adequate tools in order to find practical, effective solutions,” said Head of the OSCE Centre in Ashgabat, John MacGregor. “The OSCE Centre in Ashgabat, within its mandate, closely follows key developments in the AML/CFT area and takes concrete actions to support the Government of Turkmenistan in improving the prevention and suppression of money laundering and financing of terrorism,” he added.

The events were organized within the framework of the project “Strengthening adherence to good governance principles”.