decree of the President of Turkmenistan

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                                                                                            Authorized by

                                                                      the Decree of the President of Turkmenistan

                                                                             from January 15, 2010, No. 10798

 

 

Regulations

of Financial Monitoring Department

of the Ministry of Finances of Turkmenistan

       

1. The present regulations define the purposes, tasks, powers, functions and performed work, the basic directions of activity of the Financial monitoring  department (further FMD).

 

The FMD is department of the Ministry of Finances of Turkmenistan, authorized, according to standard legal acts of Turkmenistan, to carry out activity on gathering, analysis and further transfer of information, concerning money-laundering and financing of terrorisms, as well as development of measures on struggle against legalization of the incomes received by criminal way.

 

2. The purpose of activity of the FMD is maintenance of the legal mechanism of struggle against legalization of the incomes received by criminal way, struggle against financing of terrorism and the crimes connected to it.

 

3. the FMD in its activity is guided by the Constitution of Turkmenistan, Laws of Turkmenistan, decrees of the President of Turkmenistan, decisions of Mejlis of Turkmenistan, decisions and orders of the Cabinet of Ministers of Turkmenistan, as well as other standard legal acts of Turkmenistan, the international agreements of Turkmenistan, Regulations about the Ministry of Finances of Turkmenistan and the present Regulations.

 

4. The FMD, at realization of its activity, closely cooperates with other structural divisions of the Ministry and, in established order, with the state bodies as well as other organizations and establishments of Turkmenistan and the foreign states, and also with the international organizations.

 

5. The Tasks of the FMD are:

 

Foundation of system of continuous stream of information connected to transactions and operations in the monetary and property form, subject to the obligatory control, according to standard legal acts of Turkmenistan, revealing of suspicious transactions and operations, its use for suppression of criminal legislative acts;

 

Maintenance of confidentiality of the arriving information and protection of the founded database;

 

Foundation of the effective mechanism of struggle against to money-laundering and suppressions struggle against financing of terrorism, use of preventive measures;

 

Perfection of the international cooperation on the basis of the coordinated principles of information interchange.

 

6. The FMD, according to the assigned tasks:

 

Analyzes suspicious transactions or operations with money resources or other property;

    

Develops and carries out measures on preventive maintenance (prevention) of prevention of infringements of standard legal acts of Turkmenistan on struggle against of the money-laundering, received by criminal way and struggle against financing of terrorisms, generalizes experience on their application and carries out works on perfection of standard legal base on these questions;

 

Develops and carries out measures on revealing of suspicious transactions and the operations directed on their prevention;

       

Regularly updates internal databases under the submitted out orders about blocking of operations or transactions;

    

Carries out working out and introduces safety procedures (on confidentiality of access to databases, the information, as well as the persons working with them);

   

Carries out the internal control over actions of workers of the Management, enters internal standards of work with clients, a database and the documents having confidential character;

 

Receives from the ministries, departments, the enterprises, establishments and the organizations of all patterns of ownership, as well as physical persons the additional information and documents, for the purpose of struggle against legalization of the incomes received by criminal way, and struggle against financing of terrorism;

   

Creates and conducts the automated system of the account, processing and the information analysis on operations and the transactions which are subject to the obligatory control;

 

In the presence of the sufficient bases, testifying that the transaction or operation with money resources or other property is connected to legalization of the incomes received by criminal way, or financing of terrorism, transfers the appropriate information and materials in law enforcement bodies, according to their competence;

   

Studies and introduces in practice the advanced international operational experience, technology of carrying out of operations, using the international grants, other technical help;

   

According to commissions of the President of Turkmenistan takes part in working out and performance of programs of the international cooperation, the international conventions, represents offers on the conclusion of contracts on information interchange;

 

Participates in preparation of standard legal acts of Turkmenistan on the questions connected to struggle against legalization of incomes, received by criminal way and struggle against financing of terrorism;

        

Develops, confirms and introduces norms and work standards, methodical recommendations, programs as well as other documents;

   

Carries out the control over activity of the persons who are carrying out operations with money resources or other property, regarding observance of the legislation by them about struggle against legalization of the incomes received by criminal way and struggle against financing of terrorism;

   

Organizes work on deepening of educational level of workers of the FMD on a speciality, by carrying out of courses of improvement of qualification and certification;

 

Carries out work according to laws as well as other standard legal acts of Turkmenistan and the present Regulations;

 

Carries out other Tasks connected to realization of functions of the FMD.

 

7. The FMD is entitled:

    

To request the information and proving documents from the parties giving the information, as well as the ministries, departments, the enterprises, establishments and the organizations of all patterns of ownership and the physical persons performing operations with money resources and other property;

       

To receive in established order data from competent bodies of the foreign states;

    

To use databases of the state bodies according to the current legislation;

    

To stop for the term up to five working days realization of transactions and operations with money resources and other property in case there are data about participation in terrorist activity (financing of terrorism) at least one of the parties participating in these transactions and operations;

 

To co-operate with the international organizations in established order;

    

To employ, including on a contractual basis, research as well as other organizations, as well as separate experts for carrying out of examinations, workings out of programs of training, methodical materials, program and a supply with information, foundation of information systems in sphere of financial monitoring under condition of observance of state as well as other secret protected by the legislation;

   

To carry out other powers, according to standard legal acts of Turkmenistan.

 

8. The FMD is headed by the Chief appointed to the post and released from it by the Minister of Finances of Turkmenistan in coordination with the Cabinet of Ministers of Turkmenistan.

 

9. The head of department:

 

Supervises over activity of the FMD and bears personal responsibility for performance of Tasks and the functions assigned to the FMD.

     

Provides performance of commissions of a FMD of the Ministry of Finance of Turkmenistan, entering into its competence, in target dates and it is qualitative, as well as together with other managements and Ministry departments participates in preparation of necessary documents and the information;

     

Defines Tasks and functions of employees of the FMD;

 

Provides timely performance of decrees of the President of Turkmenistan, decisions of Mejlis of Turkmenistan and decisions of the Cabinet of Ministers of Turkmenistan, orders of the Ministry of Finances of Turkmenistan as well as other standard legal acts of Turkmenistan;

 

Prepares offers concerning selection and arrangement of employees for work in the FMD and in established order represents to their FMD of the Ministry;

        

Provides timely, accurate and correct office-work and database conducting;

 

Carries out other tasks according to standard legal acts of Turkmenistan.

 

10. Officials of the ministries, departments, the enterprises, establishments and the organizations of all patterns of ownership, also physical persons, under the Ministry letter of inquiry, are obliged to represent necessary data, as well as to provide access to systems of the information and databases for performance of Tasks and functions on realization of financial monitoring on struggle against of laundering of the incomes received by criminal way and struggle against financing of terrorism.

 

 

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