AKIPRESS.COM - National Risk Assessment (NRA) system for countering money-laundering and financing of terrorism was the focus of an OSCE-organized case study exercise that concluded in Ashgabat today.

The three-day practical exercise brought together representatives of Turkmenistan’s financial institutions, law enforcement and regulatory bodies and aimed to introduce them to the process of conducting NRA.

The event was led by Giuseppe Lombardo, International Strategic Advisor at Financial Integrity Network, representing a group of independent experts, lawyers and economists, engaged in projects to prevent financial and economic crimes. He conducted an exercise providing participants from relevant government agencies with an opportunity to enhance their practical skills in conducting the NRA.

The exercise followed a two-day workshop on risk-based approach to countering money laundering and financing of terrorism held earlier this week. The training was attended by the representatives of entities responsible to report to the Financial Monitoring Department of the Ministry of Finance of Turkmenistan on issues related to anti-money laundering and combating financing of terrorism and focused on identification, assessment and mitigation of their risks.

“International instruments on combating money laundering and financing of terrorism, encourage the Governments to build capacity of national agencies to counter these crimes and promote good governance principles at all levels,” said Radovan Znasik, Economic and Environmental Officer of the OSCE Centre in Ashgabat.

“The OSCE Centre in Ashgabat designed these activities as part of its support to the government of Turkmenistan to develop and apply effective measures and approaches to prevent and counter money laundering and financing of terrorism.”

Both activities were held at the Good Governance Resource Centre established last year in the premises of the Finance Ministry of Turkmenistan with the OSCE Centre’s support.