Financial Monitoring Service at the Ministry of Finance and Economy of Turkmenistan.

Financial Monitoring Service at the Ministry of Finance and Economy of Turkmenistan is the authorized state body for prevention of laundering (legalization) of proceeds and financing of terrorism.The Service was established on Oktober 05, 2018 by the Decree of President of Turkmenistan Gurbanguly Berdimuhamedov. Newly established state body confirms effective steps goverment of Turkmenistan taking towards inplementation of the Conventions of the UN, resolutions of the UN General Assembly and the relevant resolutions of the UN Security Council.

 

 

 

 


News

26.01.2021 Consultations with Belarusian Partners

On January 26, online Turkmenistan-Belarus ministerial-level consultations were held at the Ministry of Foreign Affairs of Turkmenistan with the participation of Foreign Minister of the Republic of Belarus Vladimir Makey.

24.01.2021 Fuel Takes Top Position

 

Last week, 35 transactions were registered at the State Commodity and Raw Materials Exchange of Turkmenistan.


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On May 14-15, 2021, in the building of the Ministry of Finance and Economy of Turkmenistan, within the framework of the project entitled "Strengthening the principles of good public administration practice", the Financial Monitoring Service at the Ministry of Finance and Economy of Turkmenistan organized the presentation of the 2nd National Risk Assessment Report in the field of combating money laundering, financing of terrorism and financing the proliferation of weapons of mass destruction for the periods 2018-2019 and the first half of 2020, as well as its Risk Management Action Plan (RAP) for 2021-2022.

 

On April 29, 2021, in the office of the Ministry of Finance and Economy of Turkmenistan, was held an online meeting of the "Eurasian" regional group "Egmont", which is a global association of financial intelligence units. The meeting discussed the work carried out by the Secretariat of the Egmont group to convert the filling of applications into XML format, when exchanging financial information between the members of the Egmont group, the procedure for electing the chairman of the regional group, the procedure for verifying compliance with the requirements for membership in the Egmont team and their implementation, as well as measures to be taken in case of non-compliance.The meeting was attended by representatives of the Financial Monitoring Service at the Ministry of Finance and Economy of Turkmenistan.

 

On April 28-29, 2021, was held an online meeting of the International Compliance Council  in the office of the Ministry of Finance and Economy of Turkmenistan çonjointly with the Eurasian Group on Combating Money Laundering and Financing of Terrorism. As part ofevaluation of the risks of money laundering and terrorist financing in the Eurasian region, the conference participants discussed the information provided in the questionnaire sent to the project team by representatives of financial institutions and the private sector of the countries participating in the Eurasian Group, as well as the work to be done in the future within the framework of the project and the role of the private sector in the effective completion of the event.The meeting of the International Compliance Council was attended by representatives of relevant ministries, departments, law enforcement agencies and the private sector.

 

On April 22, 2021, in the office of the Ministry of Finance and Economy of Turkmenistan together with the Representative Office of the International Organization for Migration (IOM), an online seminar was held for the members of the Working Group on Combating Human Trafficking. During the meeting, the participants discussed the measures to be taken to implement the National Action Plan to combat human trafficking in Turkmenistan for 2020-2022. In this regard, was emphasized the importance of coordinating efforts to combat human trafficking, which is one of the most important problems of our time and requires global solutions. The training was attended by representatives of relevant ministries, departments, law enforcement agencies and the judiciary.

 

On April 20, 2021, in the office of the Ministry of Finance and Economy of Turkmenistan conjointly with the Financial Action Task Force on Money Laundering (FATF) was held an online Consultative Forum with the participation of representatives of government agencies and the private sector to discuss issues related to virtual assets. During the conference, participants discussed the implementation of the results of the 15th meeting of the FATF member states, the risks of money laundering and terrorist financing associated with providers of virtual assets, as well as related changes that have occurred in the world over the past year, the extent to which the risks may increase in the coming years and the challenges they face. The conference was attended by representatives of relevant ministries and departments.

 

On April 19, 2021, in the office of the Ministry of Finance and Economy of Turkmenistan, a Special Plenary online meeting of the Financial Action Task Force on Money Laundering (FATF) was organized upon the initiative of the Federal Republic of Germany. The meeting discussed the measures proposed to maintain the quality and effectiveness of the mutual evaluation reports in the draft prepared by the FATF team, as well as the progress of the project at the Plenary meeting of the Group. The meeting was attended by representatives of relevant ministries, departments, military and law enforcement agencies.

 

On April 8-9, 2021, in the office of the Ministry of Finance and Economy of Turkmenistan was held a video conference of the Working Group on Technical Assistance of the Eurasian Group on Combating Money Laundering and the Financing of Terrorism. During the event, the participants reviewed and discussed the parameters of the EAG budget for 2022. The EAG budget for 2022 provides for the implementation of measures provided for by the EAG Strategy for 2019-2023.The meeting of the working group was attended by representatives of relevant ministries and departments.

 

On April 8, 2021, in the office of the Ministry of Finance and Economy of Turkmenistan, conjointly with the Representative Office of the International Organization for Migration (IOM), a video conference was held on "Best practices of international money transfers in Tajikistan and the Russian Federation". The seminar focused on the impact of the pandemic on migrants, including strengthening the management capacity of the international monetary system of the governments of Central Asian countries and the Russian Federation.The meeting was attended by representatives of relevant ministries, departments and the private sector.

 

On April 6, 2021, an online consultative meeting was held upon the initiative of the European Union (Brussels) on a project to combat economic crime in Central Asia within "the Rule of Law in Central Asia" program.At the meeting was shown the presentation of a project to combat economic crime in Central Asia within "the Rule of Law in Central Asia" program.The meeting was attended by representatives of relevant ministries and departments of the country.

 

On April 5-16, 2021, in the office of the Ministry of Finance and Economy of Turkmenistan, conjointly with the International Training and Methodological Center for Financial Monitoring (ITMCFM) of the Federal Service for Financial Monitoring of the Russian Federation, a video conference was held on "Countering the financing of terrorist and extremist activities." The conference was devoted to licensing procedures for non-financial professions and enterprises, the implementation of controls and their effectiveness in detecting violations of the existing audit system, qualification of financing terrorism and financing of illegal armed groups, the procedure for conducting targeted financial measures (sanctions), adding individuals to a terrorist list, compiling a list of terrorists and extremists, freezing the property of terrorists and so on. The seminar was attended by representatives of the Financial Monitoring Service at the Ministry of Finance and Economy of Turkmenistan, law enforcement agencies, the Institute of the Ministry of Internal Affairs of Turkmenistan, the Magtymguly Turkmen State University, the Turkmen State Institute of Economics and Management and the Hero of Turkmenistan Atamurat Niyazov specialized banking school.

 

On April 5-7, 2021, in the office of the Ministry of Finance and Economy of Turkmenistan, with the participation of experts from the International Training and Methodology Centre for Financial Monitoring (ITMCFM) of the Federal Service for Financial Monitoring of the Russian Federation, a videoconference was held on “Organization of Parallel Financial Investigations and Property Search: International Experience and Best Practices". The meeting discussed the practical aspects of organizing parallel financial research, international experience and best practices in property tracking, studying the main methods and tools of strategic analysis and identifying crime patterns through operational analysis. The training was attended by representatives of relevant ministries, departments, law enforcement agencies and the judiciary.

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