Risk-Based Approach in Combating Money Laundering and Terrorist Financing: Outcomes of the International Online Seminar

The Law Enforcement Academy of the Republic of Uzbekistan, in cooperation with the Department for Combating Economic Crimes, organized an international online seminar dedicated to the exchange of experience in national and sectoral risk assessment. The event was held with the technical and expert support of the Secretariat of the Eurasian Group on Combating Money Laundering and Financing of Terrorism (EAG) and the International Training and Methodology Centre for Financial Monitoring.

The seminar brought together representatives of financial intelligence units and supervisory authorities, officials from financial and non-financial institutions, as well as sectoral experts from the Republic of Uzbekistan and the Russian Federation.

During the event, participants discussed international standards and requirements of the risk-based approach, the practice of conducting national risk assessments, and the application of their results in supervisory and law enforcement activities. Particular attention was paid to sector-specific aspects of risk assessment in the banking, notarial, leasing, and auditing sectors.

As noted, improving the risk assessment system is a key element in strengthening the national framework for combating money laundering, terrorist financing, and the financing of the proliferation of weapons of mass destruction. The exchange of experience between government authorities and international experts contributes to the effective identification of threats, vulnerabilities, and consequences related to financial crimes, as well as to the implementation of advanced international practices.

Following the seminar, participants emphasized the importance of further introducing risk-based tools and analytical solutions, as well as continuing professional dialogue between government bodies and international experts to enhance the effectiveness of national systems for countering financial threats.