International Finance
Banking

OSCE helps combating money laundering and financing of terrorism in banking sector

Discussed NRA process in Uzbekistan and included interactive and practical learning modules on data collection and analysis

An OSCE-organized workshop on National Money Laundering and Terrorist Financing Risk Assessment (NRA) started today in Tashkent.

The two-day course which was supported by international anti-money laundering and countering financing of terrorism (AML/CFT) experts is organized by the OSCE Project Co-ordinator in Uzbekistan together with the Financial Intelligence Unit of Uzbekistan and Central Bank of the Republic of Uzbekistan.

Banking sector representatives from regulatory authorities and private sector, as well as key government authorities gathered to discuss NRA process in Uzbekistan and best international practices. The workshop also included interactive and practical learning modules on data collection and analysis.

“We live in a quickly changing environment and money launderers are one step ahead of people who are chasing them. In this regard we need to adapt to those developments and elaborate effective mechanisms to fight against that phenomenon. The international community constantly updates international standards, but their successful implementation highly depends on how they are reinforced particularly in financial sector. Our today’s experts are here to show best practices of implementation of existing mechanisms,” said Mr. Hans-Ullrich Ihm, Senior Project Officer, Economic and Environmental Dimension, OSCE Project Co-ordinator in Uzbekistan.

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