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, organized the next professional development seminar for employees of the internal control system of the National Bank for Foreign Economic Activity. The event was aimed at enhancing the effectiveness of bank internal control in combating money laundering and terrorist financing.
The seminar programme covered the requirements of national legislation, the international standards and recommendations of the FATF, the timely identification, assessment and management of financial risks associated with banking operations, the application of a risk-based approach, as well as issues related to the proper due diligence of customers. Particular attention was paid to the prevention of conflicts of interest, compliance with restrictions related to sanctions, and the criteria for identifying suspicious financial transactions and providing them with a legal assessment.
Based on practical cases, risk factors and problematic situations that may arise in banking activities were analysed, and measures to prevent them and mitigate potential adverse consequences were discussed. During the interactive sessions held with the participation of professors and lecturers of the Academy, specialists from the Central Bank and the Department, views were exchanged on advanced national and international practices, as well as mechanisms for effectively organizing internal control.
At the conclusion of the seminar, participants strengthened their practical skills in identifying and managing conflicts of interest, assessing financial risks, analysing suspicious transactions, and determining necessary measures. The knowledge and skills acquired will contribute to developing a compliance culture in the bank, enhancing the effectiveness of internal control, and reducing risks associated with money laundering and terrorist financing.