OSCE holds workshop in Armenia on campaign against money laundering and financing of terrorism

YEREVAN, 26 March 2003 - The fight against money laundering and the financing of terrorism was the focus of a two-day workshop held on 24 and 25 March in Yerevan, Armenia.

The event, which was the first of its kind in Armenia, aimed at promoting the adoption of comprehensive legislation and the creation of effective structures for the financial analysis, criminal investigation, and prosecution as well as of procedures that are consistent with principles of good governance and the rule of law.

"We warmly welcome the willingness of the Armenian Government to tackle this subject", said Ambassador Roy Reeve, Head of the OSCE Office in Yerevan, adding that his office was ready to promote the implementation of the recommendations adopted at the workshop in co-operation with the Government.

The workshop was jointly organized by the OSCE and the UN Office on Drugs and Crime (UN ODC), in co-operation with the Armenian Government and the Council of Europe.

During the two-day meeting, 60 high-level participants from various national and international institutions discussed legal and administrative tools that could be used to fight money laundering and to suppress the financing of terrorism. Representatives of the Office of the Co-ordinator of OSCE Economic and Environmental Activities, the UN ODC's Global Programme against Money Laundering, and the Council of Europe introduced international instruments and practices to address the issue.

Expert speakers from Austria, Canada, Hungary, Latvia, Kazakhstan, Russia and the United States shared their experiences with their Armenian counterparts, whilst representatives of the Armenian Government presented recent initiatives in Armenia on the issue, such as new regulation developed by the Armenian Central Bank to combat money laundering and suppress the financing of terrorism in financial institutions.

The event will soon be followed by an experts meeting with relevant Armenian authorities, in order to set up a work plan for further activities.