Uzbekistan, Tashkent, April 16 corr / Trend D.Azizov /
A group on development of financial measures to fighting with money laundry (FATF) removed Uzbekistan from the list of monitoring due to progress in the development and improvement of national regime counteracting laundry of income obtained in a criminal way, Zhahon agency at the Uzbek foreign Ministry reported citing FATF's decision.
FATF notes high efficiency of a set of measures adopted in Uzbekistan in the field of legalizing criminal income and financing terror.
The organization appreciates measures taken in the country to apply law and provisions, directed at improving and harmonizing the legislation in this field.
Law on counteracting legalization of income obtained through criminal activities, and financing terror was adopted at the Uzbek parliament in August 2004 and enacted into law on Jan. 1, 2006.
The senate adopted in April 2007 suspension of statute, initiated by the President's decree, by Jan. 1, 2013.
It in particular concerned the establishment of fiscal intelligence system, monitoring over financial and real estate operations, directed at revealing possible channels and mechanisms to legalize income obtained though criminal way, informing the law-enforcement agencies by the financial organizations about law violations, creating database and interactions with computer agencies in this direction.
In this respect, FATF applied the Uzbek Government with a call to take actions to remove the gaps and to adjust the national legislation in accordance with international standards.
Uzbekistan's senate restored the efficiency of the law and injected some amendments in March 2008 to it to toughen the control.
As compared to previous edition of the law, definition of "financing terror" term was expanded, control over financial operations by physical and legal entities, the list of financial organizations in charge of controlling the specified norms was expanded, mechanism of interaction of financial organizations with special state agency - Department for enforcing tax, currency crimes and legalization of criminal income at the Uzbek Prosecutor-General's Office was determined.