OSCE Project Co-ordinator in Uzbekistan supports seminar on countering money laundering and financing of terrorism

Money laundering is a direct threat to both national and international security and international co-operation is essential to combat it, participants heard during a two-day seminar in Tashkent that began on 3 November 2011.

More than 100 staff responsible for the implementation of the anti-money laundering and countering financing of terrorism regime in the non-banking credit organizations of Uzbekistan, including organizations granting micro credits and other non-banking financial institutions, took part in the seminar, which aims to support the development of legislation and administrative structures to help prevent and combat such threats.

Experts from the International Training Centre on Financial Monitoring established by Russia’s Federal Service on Financial Monitoring and from the Russian Finance University shared their expertise on international standards and control functions.       

The event was organized as part of the economic and environmental dimension activities of the OSCE Project Co-ordinator's Office in Uzbekistan together with Uzbekistan’s Central Bank.

As part of the seminar, a course on risk analysis and methodologies for identifying suspicious transactions and reporting was held.