Financial Monitoring service

at the ministry of

Finance and economy of Turkmenistan

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Interaction and coordination

Interaction and coordination

The Eurasian group on combating money laundering and financing of terrorism (EAG) and Financial Action Task Force on Money Laundering– FATF.

Turkmenistan joined to the Eurasian group on combating money laundering and financing of terrorism in June 2010 by the decision of the 12th Plenary Session. Earlier, since December 2007, Turkmenistan had the status of an observer.

EAG activities are aimed at assisting the states of the region in creating appropriate legal and institutional frameworks for AML/CFT, in accordance with FATF standards.

Membership in the EAG opened Turkmenistan opportunities for active participation in the FATF and cooperation with other countries and international organizations in the field of combating money laundering and terrorism financing (AML/CFT).

The Government of Turkmenistan supported the initiative of the decision of the 12th EAG Plenary meeting on mutual assessment of the national AML/CFT system of Turkmenistan for compliance with international standards, in particular, 40 and 9 FATF recommendations.

In November 2010, EAG experts visited Turkmenistan, in April 2011 there was a meeting "face to face" with assessors in Moscow. At the 14th plenary session of the EAG, the EAG approved the report on mutual evaluation of Turkmenistan, the results of which allow to speak about significant implementation of key FATF recommendations. Also at this plenary meeting the report on the progress of Turkmenistan was approved, which allowed improving the ratings on the implementation of the FATF strategic recommendations.

In addition, at this Plenary meeting Turkmenistan and EAG member countries signed an agreement on the EAG. In order to strengthen international cooperation, the FIU of Turkmenistan signed bilateral agreements on cooperation with the Federal Financial Monitoring Service "Rosfinmonitoring" and the Department of Financial Monitoring of the State Control Committee of the Republic of Belarus.

Financial monitoring service of Turkmenistan is actively cooperating with Egmont Group and the World Bank. To date, the FIU of Turkmenistan has cooperation agreements with the FIU of a number of countries such as the Republic of Belarus, the Russian Federation, China, Tajikistan, Romania, Ukraine, the Republic of Turkey, Japan, the Republic of Uzbekistan, the Kyrgyz Republic, the Islamic Republic of Iran, the Republic of Latvia, the Republic of Moldova, Georgia, the Islamic Republic of Afghanistan, the State of Qatar, the Islamic Republic of Pakistan, the Republic of Kazakhstan and the Republic of Armenia.