Armenia’s Financial Intelligence Unit Plays Crucial Role in Combatting Money Laundering and Terrorism Financing

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The Financial Monitoring Center (FMC), established in 2005 within the Central Bank of Armenia, has been at the forefront of combating money laundering and terrorism financing in the country. As an administrative- financial intelligence unit, it serves as a vital link between reporting entities and law enforcement authorities.

Mission and Objectives

The mission of the FMC is to collect, analyze, and exchange information to combat money laundering and terrorism financing (AML/CFT), in line with international standards and best practices. Additionally, the FMC represents the Republic of Armenia in several international organizations and actively participates in global AML/CFT initiatives.

Legislative Framework

The direction and targets of Armenia’s AML/CFT regime are defined under the National Strategy for Combating Money Laundering and Terrorism Financing, while the authorities of the FMC are outlined in the Republic of Armenia Law on Combating Money Laundering and Terrorism Financing. The organizational structure and functions of the FMC are governed by its Statute.

Contribution to Financial Transparency and Stability

As a key player in Armenia’s AML/CFT efforts, the FMC has been instrumental in enhancing financial transparency and stability in the country. Its work has contributed to:

• Improved international cooperation
• Reduced risks associated with money laundering and terrorism financing
• Strengthened Armenia’s position as a reliable partner in global finance

Overall, the Financial Monitoring Center plays a crucial role in combating money laundering and terrorism financing in Armenia, enhancing financial transparency and stability, and promoting international cooperation.