Financial Crime World

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Risk-Based Approach to Financial Crime Compliance in Armenia Takes Center Stage at Specialized Training

Yerevan, Armenia - A Comprehensive Training Program for Financial Institutions and DNFBPs

The Council of Europe, in partnership with the Financial Monitoring Center of the Central Bank of Armenia (FIU of Armenia), has organized a three-day training program to enhance expertise in Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) compliance.

Training Objectives

  • Familiarize participants with the main elements of an effective compliance program
  • Introduce a risk-based approach specific to financial sector and DNFBPs
  • Equip participants with practical insights and experience to identify, mitigate, and prevent financial crimes

Key Topics Covered

  • Typologies and case studies relevant for financial sector and DNFBPs
  • Implementing targeted financial sanctions
  • National regulatory frameworks, international standards, and best practices
  • Emerging challenges related to national money laundering and terrorist financing risk assessment (NRA)
  • Effective strategies for applying relevant preventive measures

A Safer Financial Environment

The active engagement of national institutions reflects Armenia’s proactive approach in aligning its financial and non-financial sectors with global AML/CTF standards, ultimately contributing to a safer and more secure financial environment.

Partnership for Good Governance

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This training is part of the European Union and Council of Europe joint program “Partnership for Good Governance,” which aims to strengthen good governance in the Eastern Partnership region by providing tailor-made support to countries to bring their legislation and practice closer to European standards in the fields of human rights, rule of law, and democracy.

Project Details

  • Project duration: March 2023 - February 2026
  • Total budget: EUR 630,000
  • Overall program budget: EUR 19.3 million
  • Funding breakdown:
    • European Union: 80%
    • Council of Europe: 20%