Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) Efforts in Tajikistan

Tajikistan has been actively working to prevent and counter money laundering/terrorist financing (ML/TF) offenses through its Financial Monitoring Department (FMD) under the National Bank of Tajikistan (NBT).

Key Points from the Report

• Implementation of Recommendations: Tajikistan has implemented many of the recommendations from the Financial Action Task Force (FATF) mutual evaluation in 2018.
• Simplification of Customer Due Diligence (CDD): The NBT issued a Board Resolution to simplify CDD requirements for customers who are natural persons or legal entities with a close relationship with the bank or financial institution.
• Risk-Based Approach: Obligated entities in Tajikistan have started implementing a risk-based approach to AML/CFT.
• Suspicious Transaction Reporting (STR): The FMD received 119,115 STRs from obligated entities in 2021, which is 47.3% less than in 2019.
• Cooperation with Law Enforcement Agencies: The FMD has strengthened its cooperation with law enforcement agencies, including sending 37 spontaneous disclosures and responding to 177 requests from LEAs.
• Investigations and Prosecutions: In 2021, LEAs initiated 15 criminal proceedings under Article 262 of the RT Criminal Code, which is a significant increase compared to 2020.

Notable Cases

• The investigation into a transnational organized drug trafficking group, which led to the seizure of assets worth TJS 50 million (~4.5 million USD).
• A case where FMD officers proactively requested information from a law enforcement agency about detained persons suspected of money laundering.

Conclusion

Tajikistan has made significant progress in implementing AML/CFT measures and strengthening its cooperation with international partners. However, it is essential to continue improving professional training for LEA officers and other agencies to effectively detect and disrupt ML/TF offenses.