DUSHANBE, June 5, 2009, Asia-Plus — Tajikistan runs risk to be put on the black list of the Financial Action Task Force (FATF) on Money Laundering.
Belarus’ news agency BELTA reported on June 5 that director of the financial monitoring department within the Belarus State Financial Control Committee, Valery Yaroshevsky, has informed the head of the Tajik government of that. Mr. Yaroshevsky heads the high-level mission of the Eurasian Group (EAG) on Combating Money and Financing of Terrorism.
The EAG mission, consisting of representatives from Russia, China, Kyrgyzstan and the EAG Secretariat, worked in Dushanbe in late May to get acquainted with the process of creation of the national system of countering money laundering and financing of terrorism in Tajikistan and inform the Tajik authorities of the possibility of inclusion of Tajikistan on a new black list being prepared by FATF, BELTA said.
During their stay in Dushanbe, the mission members held talks with Prime Minister Oqil Oqilov, senior representatives of the Working Group on Money Laundering and Financing of Terrorism Issues, Ministry of Finance, National Bank of Tajikistan and the Agency for State Financial Control and Combating Corruption.
EAG is a FATF-style regional body. The EAG activities are aimed at: creating the legal and institutional AML/CFT framework in EAG member states in line with the FATF standards; further study of money laundering and terrorism financing typologies taking into account the peculiarities of the region; implementing technical assistance programs involving the creation of FIUs and staff training, with the involvement of the Autonomous non-commercial organization “International Training and Methodological Center of Financial Monitoring” created by the decision of the Government of the Russian Federation in December 2005.
The Financial Action Task Force (FATF) is an inter-governmental body whose purpose is the development and promotion of policies, both at national and international levels, to combat money laundering and terrorist financing. The Task Force is therefore a “policy-making body” which works to generate the necessary political will to bring about national legislative and regulatory reforms in these areas. The FATF monitors members” progress in implementing necessary measures, reviews money laundering and terrorist financing techniques and counter-measures, and promotes the adoption and implementation of appropriate measures globally. In performing these activities, the FATF collaborates with other international bodies involved in combating money laundering and the financing of terrorism.
The FATF does not have a tightly defined constitution or an unlimited life span. The Task Force reviews its mission every five years. The FATF has been in existence since 1989. In 2004, Ministry representatives from the 33 FATF members agreed to extend the mandate of the Task Force until 2012. This 8-year mandate demonstrates that members of the FATF remain united in their commitment to combat terrorism and international crime, and is a sign of their confidence in the FATF as an important instrument in that fight.
