The Law Enforcement Academy of the Republic of Uzbekistan, in cooperation with the Department for Combating Economic Crimes under the General Prosecutor’s Office and the Central Bank, conducted a professional development seminar for employees of the internal control units of JSCB "Xalq Bank".
The seminar focused on the effective application in banking practice of the requirements of national legislation in the field of combating money laundering and terrorist financing, as well as the international standards of the Financial Action Task Force (FATF).
With the participation of professors and lecturers of the Academy, as well as specialists from the Central Bank and the Department for Combating Economic Crimes, the seminar covered the criteria for identifying and assessing financial risks, conducting proper customer due diligence, preventing conflicts of interest, complying with sanctions restrictions, and identifying suspicious transactions.
Based on real-life cases, problematic situations encountered in banking practice, as well as mechanisms for their timely identification and resolution, were analyzed. Participants exchanged views on practical recommendations for applying a risk-based approach and improving internal control processes.
The sessions, conducted in an open dialogue and question-and-answer format, contributed to strengthening participants’ practical skills in assessing financial risks, analyzing suspicious transactions, preventing conflicts of interest, and organizing effective internal control.
The seminar served as a practical example of cooperation aimed at ensuring legality and financial transparency in the banking system, enhancing the effectiveness of internal controls, and strengthening the culture of compliance.