Financial Crime World

Uzbekistan Enhances Role of Law Enforcement in Preventing Financial Crimes

Overview

Tashkent, Uzbekistan - The Republic of Uzbekistan has strengthened its efforts to combat financial crimes, focusing on the role of law enforcement in preventing and investigating money laundering, terrorism financing, and other illicit activities.

Economy and Financial Sector

Uzbekistan’s economy has been growing steadily in recent years, with a GDP of 511 billion soms (57.9 billion USD) in 2019 and a growth rate of 5.6%. The country’s export structure is diversified, with major contributors including:

  • Gold
  • Services
  • Energy and oil products
  • Textiles
  • Food products
  • Ferrous and non-ferrous metals

Key Agencies Involved in AML/CFT System

The following agencies are involved in Uzbekistan’s anti-money laundering and combating financing of terrorism (AML/CFT) system:

  • General Prosecutor’s Office
  • State Security Service
  • Ministry of Internal Affairs
  • Central Bank of Uzbekistan
  • Ministry of Justice
  • Ministry of Finance
  • Ministry for Development of Information Technologies and Communications
  • National Agency for Advanced Projects
  • State Customs Committee
  • Antimonopoly Committee
  • State Committee of Industrial Safety
  • Capital Markets Development Agency
  • State Assets Management Agency
  • State Assay Chamber

Legislative Framework

Uzbekistan has enacted a range of laws to combat financial crimes, including:

Laws and Regulations

  • Law on Combating Legalization of Criminal Proceeds, Terrorist Financing and Financing of Proliferation of Weapons of Mass Destruction
  • Criminal Code
  • Criminal Procedure Code
  • Administrative Responsibility Code
  • Law on Combating Terrorism
  • Law on Prosecutor’s Office (new version)
  • Law on Execution of Judicial Acts and Acts of Other Agencies
  • Resolution on Accession to the United Nations Convention against Corruption
  • Resolution on Ratification of the International Convention for Suppression of Terrorist Financing
  • Resolution on Ratification of the United Nations Convention against Transnational Organized Crime

International Cooperation

Uzbekistan cooperates with relevant departments of:

  • UN
  • OSCE
  • SCO
  • CIS
  • European Union
  • World Bank
  • IMF
  • EBRD
  • ADB
  • Other international organizations