interaction with the EAG and FATF





Interaction with EAG and FATF


Turkmenistan became a member of the Eurasian group on counteraction to legalization of proceeds of crime and financing of terrorism in June 2010 by decision of 12th Plenary meeting. Earlier since December 2007, Turkmenistan had the status of an observer. The activity of EAG is directed to rendering of assistance to the region states in creation of appropriate legal and institutional bases of AML/CFT corresponding to the standards of FATF.


The membership in EAG has opened to Turkmenistan the possibilities for an active participation in the work of FATF and cooperation with other countries and international organizations in the field of counteraction to laundering of monetary funds and financing of terrorism (AML/CFT).


The government of Turkmenistan has supported the decisions accepted on 12th Plenary meeting of EAG concerning carrying out of a mutual evaluation of the national system on AML/CFT for the purpose of compliance to the international standards, in particular to the FATF 40 and 9 recommendations. In November 2010 there has been paid a visit of experts-evaluators of EAG to Turkmenistan, in April 2011 there has been held the meeting “face to face” with experts- evaluators in Moscow. At 14th plenary meeting of EAG there has been approved the report on a mutual evaluation in Turkmenistan, results of which allow to speak about considerable implementation of key recommendations of FATF. Also at the given plenary meeting there has been approved the report on a progress in Turkmenistan, which has allowed besides to improve ratings on execution of strategic recommendations of FATF. Turkmenistan has also signed the agreement on EAG at the given plenary meeting. Regarding the international cooperation, during plenary meeting FIU of Turkmenistan has signed the bilateral agreement on cooperation with Rosfinmonitoring and FIU of Republic Belarus. There is also established an active cooperation of FIU of Turkmenistan with the group Egmont and the World Bank. In June 2011, not having an agreement on cooperation, FIU of Turkmenistan has established the close contacts with FIU of Great Britain, princedom Liechtenstein, UAE, China and British Virgin Islands. Currently, with a view of development of international cooperation in the struggle against ML/FT, Turkmenistan works on the project of agreements on information exchange on ML/FT with such countries as Kazakhstan, Kirgizstan, Latvia and Tajikistan, which signing is planned in the current year, and also there is send a proposal on conclusion of the given agreements to FIU’s of Swiss Confederation, Turkey and United Arab Emirates. 


Turkmenistan actively participates in Plenary meetings of FATF and meetings of working groups. Within the limits of the last meeting of FATF, which has been held in Paris on 24-28 October 2011, there have been held the meetings with high-ranking representatives of FATF who highly appreciated the steps taken by Turkmenistan for improvement of the national system of AML/CFT according to the international standards, having also noted the necessity of continuation of the work aimed at strengthening of measures taken for counteraction to legalization of proceeds of crime and financing of terrorism.