OSCE Experts Conduct Seminar on FATF in Ashgabat

BUSINESS TURKMENISTAN
OSCE Experts Conduct Seminar on FATF in Ashgabat
A seminar entitled “the National preparation to mutual assessment by the Eurasian Group: best practices of the OSCE states” started in Ashgabat

A three-day seminar entitled “the National preparation to mutual assessment by the Eurasian Group: best practices of the OSCE states” started in Ashgabat on Wednesday. International Experts of Organization for Security and Cooperation in Europe (OSCE) are conducting the seminar.

The 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. The representatives of the private sector and non-commercial entities are also attending the seminar.

In the first day, the participants considered 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 entities and establishments, and supervision in the private sector.

In the upcoming days, the participants of the seminar will exchange views on the international cooperation in the area of combatting money laundering and financing of terrorism, financial target sanctions, as well as on the supervision in the field of established nonfinancial entities and professions.