The Eurasian Group assessment team continues its work in Ashgabat as part of the Turkmenistan Mutual Evaluation onsite mission.
From the 1st to the 17th of August the EAG assessment team holds meetings with all competent authorities of Turkmenistan involved in the sphere of combating money laundering, terrorist financing and the financing of proliferation of weapons of mass destruction (AML/CFT/СPF), as well as with representatives of the private sector (banks, insurance organizations, notaries, lawyers, realtors, auditors, etc.) and the non-profit organizations sector.
During the meetings the issues of compliance of Turkmen legislation with international standards in the sphere of AML/CFT and effectiveness of implementation of the legislation in practice are discussed in great detail.
The on-site mission is a key stage in the mutual evaluation of Turkmenistan. The results of the evaluation of Turkmenistan’s AML/CFT system will be summarized in May – June 2023 during the EAG Plenary Week.
The Eurasian Group on Combating Money Laundering and financing of terrorism is an FATF-style regional body. It was created in 2004 for the countries of the Eurasian region not included in the existing FATF-style regional groups and is intended to play an important role in reducing the threat of international terrorism and ensure the transparency, reliability and security of the financial systems of states and their further integration into the international infrastructure for combating money laundering and terrorism financing (AML/CFT).
The AML/CFT/CPF system in Turkmenistan is based on the AML/CFT/CPF Law of Turkmenistan. The competent AML/CFT/CPF authority, ministries, departments, law enforcement agencies, military structures, credit and financial institutions, as well as the private sector representatives take an active part in the functioning of the system within their competence in preventing money laundering and terrorist financing and related predicate offences. The head of the delegation of Turkmenistan to the EAG is the Chairman of the Financial Monitoring Service under the Ministry of Finance and Economy of Turkmenistan.///EAG, 11 August 2022