Workshop on combating money laundering and financing of terrorism in Kyrgyzstan


BISHKEK (TCA) — A five-day training course supported by the OSCE Centre in Bishkek on a risk-oriented approach in supervising activities related to anti-money laundering and combating the financing of terrorism concluded on July 8 in Bosteri village in Kyrgyzstan’s Issyk-Kul region.

The aim of the workshop, which was organized by the State Financial Intelligence Service under the Government of the Kyrgyz Republic (SFIS) in partnership with the International Monetary Fund (IMF), was to update the relevant State agencies and financial institutions on the practical aspects of a risks-oriented approach in their work. Some 46 officials from law enforcement agencies, supervisory agencies and financial institutions took part.

“A risks-oriented approach is the process which allows the countries to identify, assess and understand risks to effectively combat money laundering and financing of terrorism,” said Nana Baramidze, Senior Economic and Environmental Officer at the OSCE Centre. “The OSCE Centre in Bishkek fully supports the efforts of the Kyrgyz Government in its attempt to establish effective systems to counter money laundering and the financing of terrorism.”

Chyngyz Kenenbayev, Head of the Organizational and Legal department of the SFIS, said: “We are holding this educational seminar to train representatives of national authorities and the private sector so that we can successfully pass the second round of the evaluation by the Eurasian Group on Combating Money Laundering and Financing of Terrorism (EAG). In order to fulfill international obligations under the EAG, the Kyrgyz Republic is to conduct a mutual assessment of its anti-money laundering and combating the financing of terrorism system. From 28 November to 9 December 2016, a visiting mission of EAG evaluators will conduct this assessment within the Financial Action Task Force (FATF) initiative.”

The training course, which was conducted by two IMF experts and three SFIS officials, was part of the OSCE assistance to the Kyrgyz Government in preparing for the second round of the FATF evaluation.

Sergey Kwan