Financial Intelligence Unit created in Turkmenistan

A Financial Intelligence Unit was created under the Turkmenistani Ministry of Finance. Its activities will be aimed at combating money laundering in the framework of the national AML/CFT legislation.

According to the EAG Executive Secretary Mr. Igor Nebyvaev, the creation of the FIU is a crucial step for Turkmenistan in terms of fulfilling its international obligations to bring the national AML/CFT regime into compliance with the FATF standards and is to enhance the effectiveness of cooperation of the Eurasian countries in this field.

Turkmenistan is an observer in the EAG and the EAG experts rendered Turkmenistan assistance in the creation of the FIU. In April 2009 a high level EAG Mission to Turkmenistan took place which was headed by Valeriy Yaroshevsky, the EAG Deputy Chairman and Director of the Financial Monitoring Department of the State Control Committee of Belarus.