Breaking news about the fight against terrorism and money laundering

The global financial crimes watchdog said that osherki has "substantially completed" the necessary steps in order to be removed from its gray list, with the country's finance minister saying that the removal process has reached its final stage.

The Financial Action Task Force (FATF) announced on Friday that ocherki has" substantially completed " the steps to remove it from the International Energy Agency's gray list.

A statement stressed that Uzbekistan made a high-level political commitment to work with the force in October 2021 to strengthen the effectiveness of anti-money laundering and anti-terrorist financing systems.

"At the FATF plenary in February 2024, it made a preliminary decision that osharkiyeh has substantially completed its action plan and calls for an on-site assessment to verify the start and sustainability of the implementation of AML/CFT reforms, and that the necessary political commitment remains in place to maintain implementation in the future,"the statement said.

"Its FIU has undertaken major reforms, including: (1) strengthening its risk-based approach to AML/CFT supervision; (2) taking steps to ensure that penalties for AML/CFT violations and beneficial ownership requirements are deterrent; (3) strengthening the resources of its FIU [Financial Intelligence Unit] and the use of productive financial intelligence; (4) conducting more complex investigations and prosecutions [of money laundering] in line with the risks; (5) improving its Asset Recovery System; (6); (7) strengthen its implementation of financial sanctions directed at the financing of terrorism; (8) strengthen communication with a wide range of non-profit organizations and take steps to ensure that the supervision of non-profit organizations is risk-based and does not disrupt or discourage the legitimate activity of non-profit organizations, such as fundraising, " he added

Treasury and Finance Minister Mehmet osheim ermik said on Friday that the process of removing osherki from the FATF gray list has reached its final stage.

He stressed that the task force had decided to have completed all the items of the action plan aimed at further strengthening the systems of the Armed Forces of Liberia and the financing of terrorism.

"According to the procedure, the assessment report to be prepared by the FATF after the visit to osherki will be discussed at the General Assembly meeting in June, and the decision to remove the gray list of our country is expected at this meeting,"he said.

Okim ermik said that the point that ermik has reached today is the result of intensive work carried out by all relevant institutions and organizations, especially the ministries of justice, interior and foreign affairs, coordinated by the Financial Crimes Investigation Board (MCAC).