OSCE event in Armenia discusses prevention of money laundering, terrorism financing

YEREVAN, 7 July 2004 - An OSCE meeting on preventing money laundering and the financing of terrorism brought together leading Armenian decision-makers today in Yerevan.

Armenian General Prosecutor Aghvan Hovsepyan joined about 30 parliamentarians and a number of government representatives at the National Workshop on Combating Money Laundering and Suppressing Financing of Terrorism to discuss international conventions related to these crimes, their implementation mechanisms and national initiatives.

"We are convinced that the real fight against this type of crime is not possible within the limits of national borders," said Ambassador Vladimir Pryakhin, Head of the OSCE Office in Yerevan, opening the event.

"Only close international collaboration and direct contacts between law enforcement agencies and financial institutions can provide effective means to fight this evil."

Armenian authorities have already taken a number of important steps in this area. The United Nations Convention against Transnational Organized Crime and the Council of Europe Convention on Laundering, Search, Seizure and Confiscation of the Proceeds from Crime have already been ratified by the Armenian Parliament. Measures have also been adopted by the Central Bank and a draft law is being prepared by the Ministry of Finance and Economy.

The workshop is part of a large-scale programme launched by the OSCE Office in Yerevan last year. Two national workshops were organized in 2003 together with the UN Office on Drugs and Crime (UNODC), which resulted in a number of recommendations that are currently in the process of implementation.

"The fight against money laundering and the financing of terrorism should go in line with the fight against corruption," Ambassador Pryakhin said.

General Prosecutor Hovsepyan also stressed the importance of such initiatives.

"The government of Armenia acknowledges the efforts of international community, and particularly the OSCE Office in Yerevan, in combating money laundering and terrorism financing, and thus restricting the causes of corruption," he told a news conference. "The co-operation between Armenia and the OSCE has proven to be fruitful and we are hoping for further effective joint activities."

Armenian President Robert Kocharian last year endorsed the National Anti-Corruption Strategy, which incorporates a number of measures to prevent money laundering. The OSCE Office, which has been assisting the Armenian Government in the development of the strategy since 2000, is now assisting with implementation.