annual reports




Dear reader!


The activity of authorised body (Financial Intelligence Unit (FIU) – Financial Monitoring Department of the Ministry of Finance and Economics of Turkmenistan in the sphere of Combating Financing of Terrorism and Legalization (Laundering) of Proceeds of Crime (AML/CFT) for 2011 convincingly testifies that FIU has become the key element of the AML/CFT system and plays the main role in the framework of improvement and development of the AML/CFT national system. In the framework of institutional development on the legal level there have been adopted resolutions on mandatory compliance with the recommendations 40+9 of FATF by all reporting entities of financial monitoring, law enforcement and regulatory bodies of Turkmenistan.


Over a rather short period, there have been carried out a certain work on improvement of legislation of Turkmenistan and on activation of FIU operation, taking into account FATF requirements and recommendations. Today there is provided the operational independence of FIU, its independence at decision-making process, as well as its subsequent integration into international system. There have also been made the considerable arrangements on harmonization of normative legal basis and adjusting of legislation of Turkmenistan in accordance with international requirements and standards.  


Turkmenistanpays a special attention to the aspects of international cooperation in the sphere of AML/CFT. The introduction of Turkmenistan into the Eurasian group on AML/CFT (EAG) and its active participation in Plenary meetings and meetings of working groups of FATF indicates the adherence to performance of obligations on international cooperation taken upon itself. Turkmenistan considers the cooperation within the limits of structures of United Nations, CIS, FATF and EAG as a priority direction of perfection of the national system of AML/CFT and participation in the struggle of the world community with modern challenges connected with legalization of proceeds of crime and financing of terrorism. For these purposes and in strict conformity with recommendations of FATF, we also consider as a priority the use of stored experience of units of financial intelligence of such countries - strategic partners as Swiss Confederation, the USA and the CIS countries with which there is available and established a close cooperation within the limits of the projects of technical assistance. 


The creation of strong national system of AML/CFT and activation of functioning of FIU of Turkmenistan provide a reliable protection of integrity and stability of financial system of Turkmenistan.


We closely follow key problems in the area of AML/CFT and existing challenges, including operating international and regional systems, improvement of mechanisms of prevention and suppression.


The attached report summarizes the basic results of the work of the FIU of Turkmenistan for 12 month of 2011; the legal base regulating the sphere of AML/CFT, results of activity and degree of capacity of the FIU of Turkmenistan are reflected in it. 







Annual Report of the FMD 2011 .. doc