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Money Laundering Woes Plague Turkmenistan as UNODC, Ministry of Finance Team Up for Workshop

Turkmenistan has been grappling with the growing menace of money laundering, a criminal activity that seeks to disguise the source of illegally obtained funds. To combat this issue, the United Nations Office on Drugs and Crime (UNODC) partnered with Turkmenistan’s Ministry of Finance and Economy to host a four-day workshop on operational and strategic analysis of financial data.

The Importance of Combating Money Laundering

Money laundering is a major concern in Turkmenistan, often linked to drug trafficking, corruption, tax evasion, smuggling, arms sales, kidnapping, and other illicit activities. The workshop aimed to educate participants on how to detect and prevent such schemes.

Workshop Objectives and Content

Led by UNODC AML/CTF Adviser Oleksiy Feshchenko and Expert Oxana Giska from Moldova, the workshop provided a comprehensive overview of money laundering schemes, link analysis, cryptocurrencies, darknet work, tracing, seizure, confiscation, regulation, open sources intelligence, and financial investigations. Participants were also schooled on informed decision making in financial cases.

Practical Exercises and Theoretical Presentations

The workshop included practical exercises and theoretical presentations that allowed participants to enhance their knowledge and skills in tackling money laundering cases. Attendees praised the workshop’s usefulness, stressing its importance and practical applicability.

Outcomes and Impact

With this training, Turkmenistan’s financial authorities are now better equipped to tackle the complex issue of money laundering and prevent it from becoming a major obstacle to the country’s economic development.

References

• United Nations Office on Drugs and Crime (UNODC)
• Ministry of Finance and Economy (Turkmenistan)