Financial Crime World

Turkmenistan Fights Financial Crime: OSCE Seminar Explores Best Practices in AML/CFT Enforcement

In a bid to strengthen its financial crime enforcement agencies, Turkmenistan hosted an OSCE-organized seminar in Ashgabat from July 13 to 14. The event brought together representatives from the government, private sector and law enforcement agencies to discuss best practices in risk management related to anti-money laundering (AML) and countering the financing of terrorism (CFT).

Implementing National and International Strategic Documents

The seminar focused on implementing national and international strategic documents in the AML/CFT area. Participants shared experiences and lessons learned, with international experts from Latvia and Moldova presenting on the role of law enforcement agencies, state institutions, and private sectors in implementing Turkmenistan’s Risk Management Action Plan 2021-2022.

Preparations for a Mutual Evaluation

The event also touched on the country’s preparations for a Mutual Evaluation (MU) by the Eurasian Group on Combating Money Laundering and Financing of Terrorism. Participants were briefed on best practices for preparing for the EAG evaluation process, with a focus on the roles and responsibilities of government and non-governmental structures involved in the MU preparation.

OSCE Support

The OSCE Centre in Ashgabat, which organized the seminar, is committed to countering money laundering and terrorist financing. The organization has been providing support to the Government of Turkmenistan to improve its prevention and suppression mechanisms as part of a larger project aimed at strengthening adherence to good governance principles in the country.

Outcomes

Turkmenistan’s financial crime enforcement agencies are now better equipped to tackle the complex challenges posed by AML/CFT, thanks to the sharing of best practices and international expertise. With the OSCE’s support, the country is taking concrete steps to enhance its financial transparency and prevent illicit activities.

  • The seminar provided a platform for participants to share experiences and lessons learned in implementing national and international strategic documents.
  • International experts from Latvia and Moldova presented on the role of law enforcement agencies, state institutions, and private sectors in implementing Turkmenistan’s Risk Management Action Plan 2021-2022.
  • Participants were briefed on best practices for preparing for a Mutual Evaluation by the Eurasian Group on Combating Money Laundering and Financing of Terrorism.
  • The OSCE Centre in Ashgabat is committed to countering money laundering and terrorist financing, and has been providing support to the Government of Turkmenistan to improve its prevention and suppression mechanisms.