BAKU, Azerbaijan, August 19
By Jeila Aliyeva - Trend:
Currently, Eurasian Group (EAG) is conducting a second round of mutual evaluation of Turkmenistan, EAG told Trend.
“EAG conducts mutual evaluations of the member states, including Turkmenistan, to assess levels of implementation of the Financial Action Task Force (FATF) Recommendations and the effectiveness of anti-money laundering and combatting financing of terrorism systems (AML/CFT),” said EAG.
First mutual evaluation report of Turkmenistan was conducted in 2011.
EAG further noted that COVID-19 has not substantially affected the level of their cooperation.
FATF-style regional bodies (FSRBs) conduct mutual evaluations in which the national AML/CFT regimes of the member states are assessed for conformity to international standards.
“Mutuality means that representatives of all the member states of the FSRB evaluate the other member states one-by-one according to the evaluation schedule,” says the report.
Earlier, Turkmenistan has set up an interdepartmental commission on the preparation for the EAG's assessment of Turkmenistan's FATF Recommendations implementation.
Turkmenistan joined the EAG in 2010.
Turkmenistan adopted a law on combating money laundering and the financing of terrorism in 2009.
Later, according to the recommendations of the FATF, an article was introduced on criminal liability for the financing of terrorism.
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