Series of OSCE-supported workshops on money laundering risks concludes in Kyrgyzstan

BISHKEK, 30 May 2013 – A 14-month long series of workshops and desk reviews on how to identify potential risks and loopholes for money laundering concluded today in Bishkek with a three-day event for Kyrgyz financial experts and senior officials.

Organized by the World Bank in co-operation with the OSCE and Kyrgyzstan’s State Financial Intelligence Service, the workshop used a World Bank methodology to organize and analyze information concerning the money laundering risks Kyrgyzstan faces.

“One of the ultimate goals of this process is to identify areas where money laundering could occur without being detected,” said Christian Larson, Programme Officer for the Office of the Co-ordinator of OSCE Economic and Environmental Activities. “The OSCE has helped several participating States run similar national risk assessments, which, when complete, equip the country to respond more effectively to the risks identified.”

“Kyrgyzstan is the second country in Central Asia carrying out the assessment of money laundering risks based on the World Bank’s national risk assessment methodology,” said Klaudijo Stroligo, Senior Financial Sector Specialist with the World Bank. “This workshop demonstrates the commitment of Kyrgyzstan’s authorities to improve their anti-money laundering system in compliance with international standards.”

Bolot Sadykov, State Secretary of the Kyrgyz State Financial Intelligence Service added that “the work done under the National Risk Assessment allows us to elaborate a common strategy for reducing money laundering and financing of terrorism risks.”

The National Risk Assessment process in Kyrgyzstan involved the State Financial Intelligence Service, the Ministry of Finance, the Ministry of Justice, the State Customs Control Service, the State Tax Service and a number of private financial institutions.